New Islamic securities issued
"Gamuda Announces Islamic Securities Programme", Bernama, January 5, 2007
The 'Islamic Commercial papers' are reported to be "issued based on either the Syariah principle of Musyarakah [Musharaka] or Murabahah". Based on the agency problems associated with Musharaka, it is highly likely that the issue will follow other Islamic securities issues and be based on a murabaha transaction, although it is unspecified what commodity will be used in the transaction.
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