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International

Egypt sukuk law to trigger growth in takaful sector

February 22, 2013 Reprints

The Egyptian government is close to implementing the sukuk law as it seeks to support the financial sector, reports Middle East Insurance Review citing Finance Minister Dr. El-Morsy Hegazy at the 7th International Takaful Summit.

The government is keen to introduce Shariah-compliant financial products including sukuk and takaful, while retaining the market for traditional financial products. Iqbal Asaria, associate at Afkar Consulting Ltd., said that the move comes as continuous growth of the takaful sector comes under pressure amidst failing financial markets and the changing political landscape in the Middle East.

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Egypt sukuk law to trigger growth in takaful sector

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