The board of directors of the Egyptian Financial Supervisory Authority (EFSA) headed by Sherif Sami agreed on revoking the Sukuk law (Islamic Treasury Bills) issued on May 2013 during the ousted president Mohamed Morsi's term in office. EFSA Chairman Sherif Sami announced that the above-mentioned law would be replaced with some amendments introduced to the Capital Market Law. Sami said that the proposed amendments aim at facilitating the procedures of the Sukuk law, asserting that the amendments would be put to societal dialogue as of next month.
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