17.10.2008 - Gulf Arab Islamic banks eye slowing real estate
From Reuters: With their ban on interest, the Gulf Islamic banks that managed to avoid the types of debt which proved toxic for their conventional counterparts are now praying the global crisis will bypass their property holdings. Islamic banks, which manage an estimated $1 trillion (576.5 billion pounds) worldwide, do not have the same flexibility as conventional banks in managing balance sheet risks, bankers say. For instance, they cannot reduce exposure to the real estate market by using derivatives..... Full Article: Source
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