Ikhwanweb :: The Muslim Brotherhood Official English Website

Thu93 2020

Last update18:06 PM GMT

Back to Homepage
Font Size : 12 point 14 point 16 point 18 point
:: Arab Revolutions > EGYPT
Egypt Parliament Unanimously Approves Sokouk (Bonds) Law
Egypt Parliament Unanimously Approves Sokouk (Bonds) Law
Parliamentary Legislative Authority passes into law the new financial instrument ‘Sokouk’ – a mechanism for financing and investment.
Wednesday, May 1,2013 17:13

Egypt’s Shura Council, headed by Dr. Ahmed Fahmi, has unanimously approved a draft law for ‘Sokouk’ (Islamic Bonds) as a new financial instrument, after discussing observations and recommendations of senior Muslim scholars referred by President Morsi to Shura Council to take into account.

Dr. Essam El-Erian, head of the Freedom and Justice Party’s parliamentary bloc, said: "We all seek for this law to help Egypt do without costly loans and the search for grants and financial aid. Egypt is rich in resources and manpower, and is perfectly able to push forth and progress. We will prove to the whole world that all we want is universal good."

Furthermore, MP Abdullah Badran, head of Nour Party’s parliamentary bloc, added that: "Everyone under this venerable dome wants nothing but to serve the interests of this homeland. I invite both Egyptians and foreign investors to take advantage of this law; it will help boost the Egyptian economy."

Meanwhile, MP Tariq Al-Malt, representative of Wasat Party’s parliamentary bloc, said: "Such a law is just what the Egyptian people want, because it promotes investment in the economy and opens new opportunities for work. This is the first bill that comes out of the Shura Council in four months."

tags: Shura / Erian / Morsy / FJP / Shura Council / Egyptian Economy / Freedom and Justice Party
Posted in EGYPT , FJP News  
Related Articles
Brotherhood: Salvation Front’s Shura Siege Call is Blatant Intimidation of Legislative Authority
FJP’s Ashri: Shura Council Enjoys Immunity Under New National Charter
Sobhi Saleh: Shura Council Fully Applied Constitutional Court Election Law Ruling
Erian: Shura Council Will Not Cause Parliamentary Elections Delay
Mukhtar Ashri: Shura Council Disbanding Unconstitutional, with Egypt’s New Charter
Egypt Presidency and Shura Council: Parliamentary Elections February 25 in Several Phases
Press Release on Muslim Brotherhood General Shura Council Meeting on Friday and Saturday
Great Partisan, Community Diversity in Appointed Shura Council Membership by Presidential Edict
Egypt President Decree to Appoint One-Third of 270-Member Shura Council
Egypt Shura Council Urges World Parliaments to Confront Israeli Crimes Against Humanity in Gaza
Shura Council: Dahshur Crises Resolved, Christian Families Back Home
Shura Council Speaker: Gulf and Egyptian National Security are Interdependent
Egyptian Shura Council Calls on World Powers to Do Duty Towards Syrian People
Muslim Brotherhood Shura Council Debates Presidential Elections Next Tuesday
Muslim Brotherhood Shura Council to Discuss All Options to Address Transition Stalling and Failure to Meet People's Demands
Freedom and Justice Party Nominates Dr. Ahmed Fahmi for Shura Council Speaker
FJP Press Release # 15 – Egyptian Shura Council Election Results
FJP Press Release # 14– Egyptian Shura Council Election Results
FJP Press Release # 13 – Egyptian Shura Council Election Results
FJP Press Release # 12 – Shura Elections, Phase II