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Walid Hegazy

نحن في منتصف طريق الاصلاح الاقتصادي ويجب اكماله

قال خبير الاقتصاد والقانون الدولي ، الدكتور وليد حجازي، إن قرار الجهاز المصرفي قبل عام بتحرير سعر الصرف كان قرار شجاع أن يتم اتخاذ هذا القرار في دولة نامية مثل مصر وتعاني عدم التوازن في ميزان المدفوعات بشكل كبير، مؤكدا أن القرار كان جرئيا وأضاف حجازي خلال لقاء له ببرنامج “ساعة من مصر” على فضائية “الغد” […]

Shariah

An Opportunity For Shariah Compliant Micro-finance in Egypt

In a country where 27.8% of the population lives below the poverty line, according to CAPMAS statistics, micro financing can play a crucial role in improving the standard of living and providing a means for development. Egypt’s primary objective since the economic damage that the country suffered following two revolutions has been to increase foreign […]

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A New Partnership Between Islamic Finance and Sustainable Energy

As Egypt works to ensure economic and energy sustainability, it will diversify its fuel sources and its financing initiatives. Historically, Egypt, like many developing countries, has depended on fossil fuels to power its transition to an industrialized society. Yet, increased energy prices have taken its toll on Egypt’s state finances, and the government’s recent decision […]

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Lifting of Foreign Transfer Limits Brightens Egypt’s Islamic Finance Future

This month, the Central Bank of Egypt (CBE) removed previously imposed limits on foreign currency transfers abroad. The US$100,000 cap had been in place since shortly after the 2011 protests. Foreign currency transfer limits were both symptomatic and contributing factors in Egypt’s economic crisis. The overall decrease in foreign direct investment pushed the CBE to […]

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Islamic Finance and Foreign Investment in Egypt

It is widely known that Egypt’s path out of its post-revolution economic crisis lies in attracting foreign investment to develop its infrastructure and launch key projects, to lighten government’s financial burden and reduce the country’s deficit. So far, Egypt has received funding from neighboring Gulf states and has signed an agreement with the IMF for […]

Sukuk

Egypt Amends Provisions to Regulate Sukuk Issuance

The Egyptian government is once again revisiting the issue of the Sukuk Law. Although the Sukuk Law was issued back in 2013, the law was never implemented. Recently, the government approved several amendments to the current capital market law, Law Number 95 of 1992, including a recommendation to repeal the aforementioned Sukuk Law. The amendments […]

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Our Network

What separates our firm is our commitment to region-wide client service. We accomplish this through close collaboration with a network of trusted partner law firms. Our network includes: Al-Enizy & Associates (The Kingdom of Saudi Arabia) Al-Enizy & Associates is a highly respected Saudi law firm headed by Dr. Fahd Al-Enizy, a prominent Saudi lawyer, […]

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Demystifing Islamic Finance

Publication: Demystifying Islamic Finance: What is Islamic finance? This short article explains the basics of Islamic finance, including a discussion of rules and common financial products. A “useful” definition of “Islamic finance” is that “Islamic finance” is composed of institutions that are based, in their objectives and operations, on Koranic principles.[i] This definition is more […]

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Case Study: A Landmark for Islamic Finance in Egypt

Challenge: One of the prominent Islamic banks in the region was the lead arranger for an Egyptian oil services company. The oil services company needed to refinance its medium term growth capital, and the bank sought a way to use new, post-2011 Egyptian law to incorporate Islamic finance. The bank brought in Hegazy & Partners as […]