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Posted: 22 Nov 2009 | 10:29 am
One of today's emerging debt market's are the petro dollar driven Islamic Finance Funds. Aside from a logical base in the Middle East, the UK, and in Asia counties such as Malaysia, Indonesia, now Thailand is seeing these unique products emerge. Within this country we have already seen some property projects source funding in this arena.
There continues to be many idiosyncrasies to the operations and principals vary much from traditional bank or private equity funding. Fundamentally Islamic Sharia law forbids lending for profit so cannot charge interest, wide disclosure is required and sectors such as those involved gambling, and alcohol are not allowed. Due to the unique situation return thresholds are lower then most market rate and common methods to work within a rigid framework are leasing, or the sharing of profit and losses.
This risk adverse mandate has somewhat sheltered the sector from the current financial crises and poses an attractive source of funding. Going into the next decade as oil rich countries continue to have excess liquidity the modern Islamic Financing industry is set to become a major play it the financial markets.
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