How has Islamic finance changed in the wake of the Arab Spring? MME takes a look.

Story highlights

MME looks at whether the Arab Spring has opened the door for Islamic finance

Economic fallout from the Arab Spring meant Egypt was downgraded by ratings agency

MME talks to Hassan Heikal, the CEO of Egyptian bank, EFG-Hermes

CNN  — 

IN FOCUS: Islamic Finance and the Arab Spring

In the wake of a season of regional revolts, Islamist parties are reasserting themselves in the post- Arab Spring states. From the election of moderate Islamic group of Ennahda in Tunisia to talk of Sharia Law in Libya. Western politicians and businesses are keeping a keen eye on whether the Arab Spring has opened the door for Islamic finance. This week, MME looks at the path of Islamic finance in the economies touched by the Arab Spring.

FACETIME: Hassan Heikal, CEO, EFG Hermes

As concerns spread over the economic fall out of the Arab Spring, all eyes are on Egypt’s future direction. Investor confidence has been dampened by a shaky political climate, while ratings agency, Moody’s, downgraded the North African country citing economic weakness and financial deterioration. MME sits down with Hassan Heikal, the CEO of Egyptian investment bank, EFG-Hermes, to discuss the road ahead.

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