Egypt’s Parliament Postpones Discussions of New Sovereign Sukuk Bill to 2021

Egypt has put the discussion of the country’s new sovereign Sukuk bill on hold until the new class of members of Parliament are seated in the House of Representatives in January 2021, according to local media reports.

The current House of Representatives was expected to commence discussions of the Sukuk bill on the 15th of December 2020, but ultimately postponed it to the next legislative cycle, following the end of Egypt’s Parliament’s five-year term.

The Sukuk bill, which received approval from Egypt’s Cabinet in early November 2020, is expected to lay the groundwork for the country’s first sovereign Sukuk sale. According to local media reports, the Sukuk bill determines how the debt is securitised and traded, and outlines the rights a...