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Islamic Finance Briefing - Categorized | Bonds (Sukuk), Emerging Trends, Finance more

Kuwait’s Dar defaults on $100 mln sukuk

Posted on 13 May 2009

From Reuters: Kuwait’s Islamic firm Investment Dar said it had defaulted on a $100 million Islamic debt issue, the first such default for a major, public Islamic instrument in the region.

The firm made the notification through its Bahraini unit The Investment Dar Sukuk Company, which said on Tuesday that an event of default of more than 14 days had occurred in the payment of a periodic distribution amount on its sukuk maturing in 2010, according to a bourse statement……..Full Article: Source

 
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