28.01.2009 - Ocado secures GBP10mln Sharia'a financing
From Retail-week.com: Online grocer Ocado has secured a £10m financing facility, raised using Sharia'a financing. It is the first time the retailer has used Islamic finance, which is based on the principles underlying Islamic law. The retailer secured the leasing facility from London-based Sharia'a compliant bank, Bank of London and the Middle East. Unlike conventional finance, Islamic finance avoids interest and investments in activities which are contrary to Sharia'a law such as illicit drugs, alcohol, tobacco and gambling..... Full Article: Source
Print