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Islamic Finance Briefing - Categorized | Finance, Market Moves more

What is the role of Islamic finance in the Dubai crisis?

Posted on 04 December 2009

From Livemint.com: As news began to roll out this week that Dubai World, the government of Dubai’s investment arm, was looking to delay payment on nearly $60 billion in debt, one of the topics that emerged into focus was Islamic finance.

The bonds that Dubai World issued were interest-free bonds, in compliance with Sharia law. Some analysts now say that this places Dubai World and its bondholders in a partnership, which opens up a whole new set of legal complications…………………………….Full Article: Source

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