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Islamic Finance Briefing - Categorized | Finance, Market Moves more

Dubai World to repay interest, then loan installments

Posted on 13 September 2010

From Arabianbusiness.com: Dubai World will repay interest on loans to creditors and then the loans themselves in instalments, a government official was quoted as saying, after the state owned conglomerate reached a formal deal to restructure almost $25 billion of debt.
The restructuring agreement with over 99 percent of creditor banks will rebuild confidence in Dubai’s economy and marks a new start for the debt struck emirate, Ahmad Humaid al Tayer, a key player in Dubai’s government and corporate landscape, told the Arabic daily al-Bayan in an interview published on Saturday……………………………………….Full Article: Source

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