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Korea: Islamic finance

Posted on 21 February 2011

From Koreaherald.com: When the Ministry of Strategy and Finance submitted a bill on Islamic bonds to the National Assembly in September 2009, its main motivation was to secure new sources of foreign capital that Korea could tap into when liquidity dries up due to turmoil in the global financial system ― such as the collapse of Lehman Brothers in 2008.
But the bill gained added importance following a Korean consortium’s winning of the $18.6 billion nuclear power plant project from the United Arab Emirates in December that year. The bill, if enacted, would help the Korean consortium raise funds needed to finance the project by issuing Islamic bonds……………………………………….Full Article: Source

 
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