Finance Ministry Receives Standard Chartered Delegation To Discuss Sukuk Law

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The Egyptian Ministry of Finance will receive today a delegation from Standard Chartered Bank to discuss the bank’s view and recommendations about the sukuk law.

Ahmed El Naggar, the adviser responsible for sukuk at the Ministry, stated that they will discuss with the bank’s delegation the possible methods of cooperation regarding arranging and issuing sukuk to make the first issuance succeed.

A number of banks had earlier stated that they are willing to participate in issuing sukuk and to finance the first sukuk issuance such as Crédit Agricole and CitiBank as well as Islamic Development Bank which offered to invest US$ 6 billion in sukuk.