Financial and Banking News
BUDGETS AND REVENUES
Contradictory Fatwas on Interest Cause Confusion in Egypt
For the Egyptian Government, which is under pressure from the InternationalMonetary Fund (IMF) to increase domestic interest rates while it has beendealing with a crisis of confidence in the country's largely unregulated Islamicinvestment companies, a debate over the permissibility of interest onreligious grounds is probably an unwelcome diversion. Nevertheless,...