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Default by Aston Martin owner tests Islamic finance

Posted on 15 May 2009

From Telegraph.co.uk: Kuwait’s Investment Dar, the Islamic finance holding company which owns a majority stake in British luxury carmaker Aston Martin, has suspended payments on its KD1bn ($3.5bn) debt.

Its strategy of relying on short-term financing was crippled by the credit crunch. Sharia law provides no precedent for what happens next…….Full Article: Source

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


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