04.12.2009 - What is the role of Islamic finance in the Dubai crisis?
From Livemint.com: As news began to roll out this week that Dubai World, the government of Dubaiís investment arm, was looking to delay payment on nearly $60 billion in debt, one of the topics that emerged into focus was Islamic finance. The bonds that Dubai World issued were interest-free bonds, in compliance with Sharia law. Some analysts now say that this places Dubai World and its bondholders in a partnership, which opens up a whole new set of legal complications..................................Full Article: Source
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