Shura Council’s Economic Committee will hold a press conference on Wednesday to announce the details of the draft sukuk law which was submitted yesterday.
The committee presented this draft law so as to boost the Egyptian economy as being an alternative to borrowing and selling the state’s assets, said Mohamed El-Feky, head of the committee.
Sukuk will contribute to establishing national projects and creating job opportunities without imposing greater burden on the state’s budget, he added. He revealed that sukuk will finance great projects such infrastructure projects.
He affirmed that sukuk will add assets to the country; instead of selling the state’s assets as it was claimed. There is big difference between the sukuk law drafted by the Shura Council and that presented by the former Minster of Investment Mahmoud Mohy EL-Din, he confirmed.
