Mona Zulficar: New Sukuk Law Pivotal For Opening Up New Markets

Mona Zulficar, EFG-Hermes Board of Directors chairperson, said the new Islamic sukuk law which will be issued within the coming period will contribute to opening up new markets alongside strengthening the communication channels between the Egyptian government and firms.

She added that the investment banking is facing severe difficulties amid the country’s transitional period. During the last two years, there was a vague vision about the country’s new political and economic system, She explained. A policy of apprehension was adopted during that period.  Though the market has seen some positive indicators such as the presidential elections, there was an overall concern over the future of new constitution and the coming parliamentary elections.

Zulficar further noted that EFG-Hermes (HRHO.CA) is currently making local and international marketing operations as the country has recently witnessed breakthroughs after electing new president and forming the government.