24.12.2009 - Confusion over Gulf sukuk bankruptcy rules
From Zawya.com: The recent near-default of Nakheel's Islamic bond has triggered calls for better bankruptcy rules in the Gulf as investors wake up to legal and financial risks now that the boom years are over. Sukuks are fixed income prod-ucts that behave like conven-tional bonds but don't pay interest - banned by Sharia law - and roughly offer the same protection as an ordin-ary unsecured corporate bond in case of a default.........................................Full Article: Source
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