31.05.2012 - The importance of being Islamic
If VTB manages, on its third attempt, to issue a sukuk then the Russian bank will have achieved for conventional issuers what Goldman Sachs couldn’t and Crédit Agricole didn’t dare. Demonstrating that such business is possible would do a big favour for the Islamic finance market — and the Russians themselves. Goldman Sach’s difficulties in accessing the sukuk market threatened to be a big setback for the global Islamic finance market’s cause. But a VTB success could revive interest among other potential non-Islamic borrowers — providing it goes about the task in the right way...............................................Full Article: Source
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