09.11.2009 - Islamic finance a credible option
From Business24-7.ae: The effect of the economic downturn on the Gulf construction industry has been severe. From the funding perspective, the inability or unwillingness of the conventional commercial bank market, the traditional Atlas of debt for projects, to shoulder the burden of funding is the greatest consequence of the current crisis. Project stakeholders must now often look elsewhere to supplement funding. Among the responses that have arisen to answer this call are greater government backing of projects through funding and guarantees, increased participation by multilateral lending and export credit agencies, and the return of bond financing to the project market..............................Full Article: Source