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Islamic Finance Briefing - Categorized | Finance, Financial Instruments (Credit Cards, Debts, Loans, Mort more

Dar to unveil $3.5bln debt restructuring

Posted on 17 November 2009

From Gulf-times.com: Kuwait’s Investment Dar will present creditors and investors this month with a proposal to restructure about 1bn dinars ($3.5bn) of its debt, a Dar spokesman said yesterday.
The Islamic investment firm defaulted on a $100mn Islamic debt issue last May—the first of its kind on a major, public Islamic instrument in the region—and has said it may sell some assets to meet its obligations………………..Full Article: Source

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