A body promoting development of debt sales to tackle climate change, with sponsors including National Australia Bank Ltd. and HSBC Holdings Plc, plans to spur green Islamic bond markets as the Middle East diversifies from oil.
The Climate Bonds Initiative, which has advisers from Morgan Stanley and Bank of America Corp.’s Merrill Lynch, will set up a panel to help create financial products complying with Islamic shariah law, Chairman Sean Kidney said………………………………………..Full Article: Source