Friday, February 20, 2009

Winds of Change in Favor of Islamic Banking

Asharq Al-Awsat:In the first statement made by Dr. Mohamed Al-Jasser, the new Governor of the Saudi Arabian Monetary Agency [SAMA], he spoke about long-term financing projects in Saudi Arabia, saying that in the past the burden of this type of financing fell upon governmental funds, and not commercial banks. Dr. Al Jasser revealed that there is a good opportunity for Saudi Arabia to secure long-term financing via other alternatives that have yet to be explored, such as through the issuance of bonds and Sukuk [Islamic bonds}...Continue Reading

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