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Islamic Finance Briefing - Categorized | Bonds (Sukuk) more

Pakistan banks to face major Sukuk default

Posted on 11 December 2009

From Dawn.com: Banks in Pakistan were stunned at the information that a major cement company has expressed inability to payback Rs8 billion Sukuk bonds and has asked the creditors to restructure the payment schedule.

Banking sources said in a meeting held on Friday last with the bankers and income fund managers, Maple Leaf which issued the Sukuk, asked the bankers to restructure the financing………………………………Full Article: Source

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