CAIRO, April 11 Egypt's top religious authority
on Thursday approved a law that would allow the Arab country
struggling with a soaring budget deficit to issue Islamic bonds
but said some articles passed by parliament must be amended.
The parliament led by the Muslim Brotherhood's Freedom and
Justice Party approved the law in March and referred it to
President Mohamed Mursi. Al-Azhar, the country's leading Islamic
authority, protested, saying its top scholars should have been
consulted, as stated in the new, Islamist-tinged constitution.
The scholars have now agreed to the bill on Islamic bonds,
also known as sukuk, on condition that certain articles are
amended, according to a statement from the Senior Scholars
Authority, part of Al-Azhar.