| Dubai Islamic Bank, National Bank of Abu Dhabi and Standard Chartered Bank make up the three banks that have subscribed a combination of Islamic and conventional financing: according to an Emaar spokesman Dh2.8 billion of the facility is Islamic, and the remaining Dh800 million is conventional.
As Emaar slowly but surely begins to near the end of its debt restructuring, Kipp can’t help but think that if 2010 was the year in which massive debt revelations were made public—2011 is the year of debt restructuring. In this article we outline just some of the major highlights in the debt-laden landscape of the UAE...............................................Full Article: Source
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