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Representative Ayman Abul-Ela, head of the Parliamentary Committee of the Reform and Development Party and deputy of the Human Rights Committee in the House of Representatives, said that the draft sovereign sukuk law helps support and finance development projects, as well as addressing the state’s general budget deficit, as it does not affect state assets, indicating that we are late In applying this idea, many countries preceded us, as the volume of securities in the world in these instruments is about 2.7 trillion dollars.
This came during his speech at the parliament’s plenary session today, chaired by Parliament Speaker Dr. Hanafi Jabali, to discuss the draft sovereign sukuk law submitted by the government.
Ayman Abul-Ela added that our experience in the Suez Canal project was pioneering, in which the Egyptians contributed about 64 billion pounds, and other successful projects as well, stressing the importance of using those funds in the country’s banking system.
The head of the Parliamentary Committee of the Reform and Development Party in Parliament continued that previous experience in the Suez Canal confirms that we still have funds outside the banking system that can be used in development projects.
Abul-Ela announced his approval of the draft law in principle, to provide additional funding for development projects.
Abul-Ela expressed his dissatisfaction with what was reported recently about an artist who reviewed the presence of more money in the house than in the banks, saying: “I do not want to dwell on the example of the reckless bully artist.”
For his part, Counselor Dr. Hanafy Jabaly called on the council’s president to delete the phrase “the reckless bully artist” from the record.
It is noteworthy that the artist, Mohamed Ramadan, published a video on his personal page on social networking sites, in which he criticizes the reservation of his money in banks, in which he confirmed that he has money at home, such as those in banks.