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Islamic Finance Briefing - Categorized | Banking, Financial Instruments (Credit Cards, Debts, Loans, Mort more

NBD reveals new Islamic banking products

Posted on 03 March 2010

From Africanfinancialmarkets.com: The National Bank for Development (NBD) introduced two new Islamic banking products last week: sukuk, a debt instrument, and yosr murabaha, a personal finance tool.
Since the acquisition of 49 percent of NBD’s stock by the Abu Dhabi Islamic Bank (ADIB) in 2007, NBD has been transitioning to Sharia-compliant financial services. Prior to ADIB’s buyout, NBD had experienced significant problems, including losses and debts which ADIB agreed to purchase……………………………………….Full Article: Source

 
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