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Islamic finance: Sukuk it up

Posted on 16 April 2010

From Economist.com: There was a time when proponents of Islamic finance sniffed opportunity in the crisis. The problems of speculative, casino-like Western banks contrasted nicely with the emphasis that sharia-compliant finance places on an ethical, risk-sharing approach. But risk-sharing looks much less appealing when issuers are defaulting.

Dubai’s debt problems badly shook investors in sukuk, a type of Islamic bond, issued by Nakheel, a troubled property developer. Although a restructuring deal announced last month should ensure that Nakheel’s bondholders will now be paid back on schedule, the saga is bound to have damaged confidence…………………..Full Article: Source

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