Wednesday, August 27, 2008

Sukuk, new investment banks, Islamic credit cards

Following the Rupiah-denominated sukuk, Indonesia's first dollar-denominated sukuk "will probably be slightly more ambitious than intended" according to an anonymous person involved in the offering.

Several GCC banks are launching three new large investment banks with focuses on infrastructure, agricultural and hospitality. The banks will use the excess liquidity created by high oil prices to direct investment in large projects with long time horizons.

Not everyone is happy about the development of Shari'ah-compliant credit cards. Some of them are significantly more expensive than their conventional alternatives without much difference in terms of how the issuer earns money from customers.

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