Egypt's economy will never be islamized: Hala El Saeed

Dr. Hala El Saeed, professor at Faculty of Economics and Political Science, ruled out Islamizing Egypt’s economy even if the next president will be an Islamist. However, El Saeed expected the introduction of Islamic sharia-compliant market mechanisms and finance channels by which banks and regulators in Egypt will abide by because of the increasing demand on Islamic products.

El Saeed told Amwal Al Ghad that commercial banks will continue their business as long as sharia-compliant products are available, meaning that all market requirements will be met. Most banks in Kingdom of Saudi Arabia, where sharia is applied in all aspects of life, are commercial ones, El Saeed added.