13.05.2009 - Debt defaults to hit Islamic banks
From Business24-7.ae: A wave of debt defaults is set to hit Islamic banks as deals sour amid the global slowdown, testing the legal framework and stability of an industry already facing the biggest slump in its 30-year history, experts said. The global economic downturn that punctured Islamic banking's growth bubble is also expected to bring many Shariah-financing structures under the legal microscope for the first time in centres such as Dubai, Bahrain and Malaysia........Full Article: Source