SC rejects Islamic Sukuk bill as violating Sharia

The decision of the Islamic Research Academy of al-Azhar to reject the Ministry of Finance's bill on Islamic bonds was supported by the Shura Council (SC) Economic Committee. A member of the SC explains that the reason therefore is the lack of legitimate aspects. Meanwhile, al-Azhar Grand Imam Ahmed el-Tayyeb recently referred a new draft law on Islamic Sukuk so that al-Azhar's Senior Scholars Council can express their opinion on it.

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