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

Dubai Government hits back at critics of $24.8bln debt plan

Posted on 30 March 2010

From Thenational.ae: The Government of Dubai has hit back at criticism from some bank creditors that are unhappy with the terms of the US$24.8 billion (Dh91.08bn) restructuring proposal by Dubai World.

A source close to the Government said the banks, which were owed $14.2bn of unsecured debt, were being offered previously undisclosed concessions in the form of guarantees and deferred interest payments………………………………..Full Article: Source

 
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