22.04.2010 - London’s interaction with the MENA region
From Globalarabnetwork.com: London has a major advantage in the area of Islamic finance, given the cluster of both retail and corporate Islamic institutions located there. Despite the financial crisis, he and others remain optimistic that the UK government will go ahead with its plans to launch a sovereign Islamic bond, or sukuk. Dubai’s near default proved a game changer for not just Dubai and the United Arab Emirates, but for the Gulf as a whole as international confidence in sovereign-owned companies plummeted and several UAE government related enterprises (GRE), including some of its major banks with exposure to Dubai GREs, found their credit ratings downgraded by Moody’s and other agencies.............................................Full Article: Source
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