Egypt Rules Out Using Canal, State Assets To Back Islamic Bonds

Egyptian prime minister Hisham Qandil has ruled out plans to use the Suez Canal or other state assets to back issues of Islamic bonds, following a controversy over a draft law that would allow the government to issue sovereign sukuk, Reuters has reported.

“The bill excludes public assets such as the Suez Canal and public facilities from being used for the issuance of instruments,” Qandil said on his official Facebook page.

Ameinfo