Not Islamic enough? Why a sukuk issuer now claims its ‘Islamic bond’ isn’t worthy of the name
When are Islamic bonds not really Islamic? If you’re Sharjah-based energy company Dana Gas, the answer is: whenever the company says so. In June, the company announced that it no longer considered its two Islamic bonds, issued in 2013 and valued at $700 million, to be Shariah compliant under United Arab Emirates law. After Dana […]
