VOL. XXXI

NO. 10

14-DECEMBER-1987

Financial and Banking News

REGIONAL BANKING

Egypt Takes Steps to Regulate Islamic Finance Companies

Investment companies which operate according to Islamic principles have longbeen the target of criticism by Egyptian government officials, who havequestioned the legality of many of their activities, particularly those relatingto foreign currency transactions. The companies themselves have experiencedrapid growth and wide public acceptance, and, free from any Central...