06.01.2010 - Islamic finance looks attractive to shipping industry
From Business24-7.ae: Islamic finance in the GCC is emerging as a credible alternative source of ship finance. Shipping companies are finding it tough to get bank financing due to strained liquidity and tight credit conditions at present. Last month, SFS Group Public Company, a Cyprus-based non-banking financial institution and Malaysian subsidiaries of the Kuwait-based bank Kuwait Finance House had announced their partnership to set up a Global Shariah Shipping Fund, a private equity fund that aims to raise $150 million (Dh550m)...........................................Full Article: Source
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