From Bloomberg: The Dubai debt crisis is prompting investors in the $130 billion Islamic bond market to seek stronger rights of ownership of assets to protect against defaults, said a U.S.-based Shariah scholar.
Funds will favor asset-backed debt, in which the ownership of collateral is transferred after a default, said Sheikh Yusuf Talal DeLorenzo, the Washington-based chief Shariah officer at Shariah Capital Inc., a consulting company……………………………………….Full Article: Source