24.09.2010 - No fund crunch in region's Islamic financial services
From Gulfnews.com: Islamic institutions in the region have adequate funding avenues despite the financial crisis, said Adnan Ahmad Yousuf, chief executive of Al Baraka Group in Dubai. "The sukuk market is open for longer term funding while there are enough avenues for Murabaha fundings in the region. Al Baraka Group's assets grew more than 15 per cent during the first half of this year," said Yousuf. Al Baraka will launch a $200 million (Dh734 million) Islamic bond sale this year to fund expansion in France, its chief executive said. Proceeds from the sukuk will be used to set up branches in France, Yousuf said on the sidelines of a conference on media impact on the Arab banking and financial sectors yesterday..............................................Full Article: Source
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