Minister: Islamic banking industry amounts to $2.7 trillion worldwide
Minister of Finance Mohamed Maait said Saturday 11/09/2021 that the government attaches a great importance to the sovereign sukuk, as the global Islamic banking industry is estimated to have hit 2.7 trillion dollars in 2020, with Egypt’s share (EGP 347 billion) constituting just a sliver it.
Maait’s remarks came in a speech, delivered on his behalf by Mohamed Hegazi, the head of the Finance Ministry’s public debt department, at the end of the first Arab forum on sovereign sukuk (bonds), which ran for two days and was attended by senior representatives of 14 Arab and Muslim states.
Maait expounded that the sukuk offer a new alternative for providing finances for investments and development projects aimed at improving the life of citizens and services provided to them.
It also attracts new investor segments, who prefer the Sharia-compliant financial instruments, he added, noting that Egypt is keen on being present in the global Sharia -compliant debt market.
Source: State Information Service Egypthttps://syrianewsgazette.com/minister-islamic-banking-industry-amounts-to-2-7-trillion-worldwide/Business