Al-Azhar's Senior Scholars Council has given five reservations on the draft sukuk law which was referred by the Egyptian President Mohamed Morsi, said Dr. Reda El-Maghawry, head of Islamic Economics Center at the United Bank. During a debate held at the American University in Cairo, she revealed that the Council has given the reservations on the Sharia aspect of the law, not on the technicalities, but she declined to name the rejected articles by the Council. The Council still studies the law to say if it complies with Islamic Sharia law or not after the president referred the law to it, said Dr. Mohamed El-Mahdy, member of the Council. El-Mahdy told Amwal Al Ghad that the Council will finalize reviewing the law by the beginning of next week to release its final report next Monday.
