Dubai's debt crisis has stifled sukuk issuance and unfairly put a damper on the Islamic finance industry, experts said, noting that an unstable credit environment and poor due diligence was to blame for the debacle.
The state-owned conglomerate Dubai World DBWLD.UL rocked global markets in November when it unveiled plans to delay repayment of $26 billion in debt as it restructures.
The company staved off default on a $4.1 billion Islamic bond linked to its property unit Nakheel after a last-minute bailout from Abu Dhabi.
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