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Does Islamic banking law prohibit a bailout of Dubai World?

Posted on 02 December 2009

From Businessinsider.com: Islamic religious prohibitions on guaranteed debt may be complicating negotiations to bail out Dubai World. The market has recovered from the initial panic over a possible default on debt issued by Dubai World, and many are assuming that the United Arab Emirates will stand behind the bonds.

But under Islamic financing rules, creditors may be required to take a haircut……………………………Full Article: Source

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