A moderate Islamic party outlawed for 15 years was granted official recognition Saturday by an Egyptian court in a sign of increasing political openness after the fall of autocratic President Hosni Mubarak.http://www.usatoday.com/news/world/2011-02-18-egypt--protest_N.htm
Al-Wasat Al-Jadid, or the New Center, was founded in 1996 by activists who split off from the conservative Muslim Brotherhood and sought to create a political movement promoting a tolerant version of Islam with liberal tendencies. Its attempts to register as an official party were rejected four times since then, most recently in 2009.
. . . Madi said his party would immediately get to work organizing its membership and opening branches to freely participate in Egypt's political life.
There has never been a "moderate Islamic party" which behaved moderately once in power and / or whose leaders were not assassinated for their moderation by fundamentalist Islamic activists. Look at how "moderate" Islamists are ruling Turkey, and how "moderate" Islamists are being assassinated in Pakistan.
Saying "moderate Islamic" is sort of like saying "jumbo shrimp".