09.11.2009 - Defaults: Islamic finance
From Reuters: A sukuk default by Kuwait's Investment Dar and debt restructuring at Saudi conglomerates have shaken confidence in the $1 trillion Islamic finance industry, fanning debate about investors' protection and investors' rights. Billed as safer than traditional banking due to requirements for assets to underpin deals, Islamic bond holders worry they may not have any more legal safeguards than conventional counterparts in case of default, or perhaps even less, partly due to the untested nature of the process..............................Full Article: Source
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