CAIRO – Egypt’s Finance Minister Mohamed Maait has asserted that the state is keen on diversifying the resources and tools of finance by attracting new segments of Egyptian and the foreign investors willing to invest according to the Islamic sharia to contribute to decreasing the costs of financing development projects.
In a statement on Tuesday, Maait said that this takes place via green sovereign Sukuks and substantial development bonds to provide the currency necessary for implementing investment, development and green projects listed on the economic and social development in the state public budget.
A sukuk is an Islamic financial certificate, similar to a bond in Western finance, that complies with Islamic religious law commonly known as Sharia.
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