| From Topnews.in: Islamic finance industry has been looking for reforms in a bid to secure its future growth by attracting investors from the Western World. The finance industry remained under intense pressure in the past due to tough conditions of state-owned Dubai World and its subsidiaries.
The crisis hit Dubai World shocked the financial World by announcing standstill on its loan obligations in November last year. Dubai World is currently under restructuring exercise of a debt worth $26 billion and is in discussions with some key creditors. However, timely help from Abu Dhabi staved off default of Dubai World’s unit Nakheel........................................Full Article: Source
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