The recent debt restructuring of Dubai World and the last minute rescue of property subsidiary Nakheel, which issued one of the largest Islamic bonds three years ago, has shaken the confidence in Islamic finance owing to growing controversy about the interaction of shari’ah compliance and principles of investor protection in times of distress. As creditors …
Monthly Archive
for: ‘April, 2010’
Britain Entering the Twilight Zone
In recent weeks, something odd has happened in British politics — something that has the potential to significantly transform the way the country relates to the European Union in the years to come. And yet, nobody seems to have noticed it: or if they have, to have not quite thought through the implications. The ‘something’ …
Does the eurozone need its own monetary fund? (Hürriyet)
In Hurriyet Daily News (Turkey) and The National (Abu Dhabi) HARRIS MYLONAS/JAMES RAYMOND VREELAND Six months after the troubles with the Greek debt were unveiled by the newly elected Greek government, German Federal Minister of Finance Wolfgang Schäuble suggested that the countries of the eurozone should consider creating a European Monetary Fund, or EMF – in …