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Egypt's House of Representatives gives final nod to sovereign Sukuk law

Egypt's House of Representatives gives final nod to sovereign Sukuk law
Sovereign sukuk will help the government diversify its funding sources

Cairo - Mubasher: The Egyptian House of Representatives gave final approval to the draft law of sovereign Sukuk, the Middle East News Agency (MENA) reported on Monday. 

The law was passed after being approved by Al-Azhar institution, the Financial Regulatory Authority (FRA), and other regulatory entities. 

The government is seeking to introduce new financial instruments and diversify its sources of financing the budget deficit and investment, economic, and developmental projects.