The role of financial engineering in developing Islamic financing tools for public projects in Egypt and Extent to benefit from international experiences

Document Type : Original Article

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Lecturer in the Department of Public Finance Faculty of Commerce, University of Alexandria

Abstract

This study aimed to analyze the role of financial engineering in developing financial products that suit the plans, objectives and growing needs of developed and developing countries, Through three sections, the first section dealt with a conceptual framework for financial engineering and Islamic financing products, and the second section reviewed the role of financial engineering in developing Islamic financing formulas for public projects in Egypt. Finally, The third section presented some of international experiences in financing public projects through Islamic sukuk, in order to benefit from them in solving the economic problems facing the Egyptian economy.
The study concluded that Islamic financial engineering products combine credibility and economic efficiency, and innovative Islamic financing formulas give way to development, achieving the goals of countries and satisfying the multiple needs of members of society, In addition to reducing the burden on the state's general budget.
Islamic sukuk is one of the products of Islamic financial engineering, which has increased its importance in the global Islamic capital markets, due to its ability to mobilize resources at the present time, and meet the financing needs of mega projects, without prejudice to its legitimate character

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