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Islamic Finance Briefing - Categorized | Banking, Funds more

Banks’ role in $10bln funds made clear

Posted on 18 January 2010

From Thenational.ae: The US$10 billion (Dh36.73bn) in financial assistance to Dubai announced last month by Abu Dhabi includes $5bn committed in November by two Abu Dhabi-controlled banks, Dubai said yesterday.

Dubai announced in mid-December that Abu Dhabi would lend it $10bn to help prevent cash-strapped companies controlled by the Dubai Government, notably Dubai World, stay afloat after the financial crisis impacted their ability to keep up with debts accumulated during the property boom…………………………………..Full Article: Source

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