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Islamic Finance Briefing - Categorized | Bonds (Sukuk), Funds, New Launches more

Dubai fund loans to cost 4 pct, may run assets-paper

Posted on 24 July 2009

From Reuters: A new Dubai fund, set up to manage a $20 billion bond programme to aid state-linked firms, will issue loans at 4 percent and could run assets handed over in lieu of debt repayment, a senior official was on Thursday quoted as saying.

Arabic daily Al Khaleej quoted Abdulrahman Al Saleh, the new director general of Dubai’s department of finance, as saying that the support fund would only charge administrative fees from recipient firms and that loans will run four to five years………..Full Article: Source

 
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