Ultraconservative Salafi Al Nour Party has submitted an official note to the Egyptian President Mohamed Morsi asking him to refer the sukuk law, recently passed by the Shura Council, to Al-Azhar’s Senior Scholars Council, as per the the article no. 4 of the Constitution which stipulates that Al-Azhar’s opinion “shall be taken in matters related to Islamic sharia”, said Sayed Aref, member of the Shura Council and Al Nour Party.
If its request have not addressed, the Party will appeal against the law in the Supreme Constitutional Court, he added.
He affirmed that the Party endorses the law as sukuk have proven to be successful in many countries and expected the financing instrument to attract huge local and foreign investments to the country. However, the law shall be approved by Al-Azhar’s Senior Scholars Council so as to ensure it is constitutional, he noted.