Mon, Oct 20, 2014
A A A
Welcome bhaimia
RSS

Islamic Finance Briefing - Categorized | Compliance, Tax, Legal, Regulatory, Finance more

Islamic financing facility to be tested by US courts

Posted on 08 June 2012

The ability of US bankruptcy law to handle shariah-compliant structures is being tested after Bahraini firm Arcapita Bank’s decision in March to file for bankruptcy protection in the US.
The bank filed for Chapter 11 after negotiations to refinance a $1.1 billion murabaha facility broke down. A murabaha involves the sale of an item on a deferred basis, often connected to a commodity………………………………………..Full Article: Source

 
Article link

This post was written by:

Laxman - who has written 19163 posts on Opalesque Islamic Finance Briefing.


Contact the author

Comments are closed.

banner
October 2014
M T W T F S S
« May    
 12345
6789101112
13141516171819
20212223242526
2728293031