Tuesday, February 21, 2006

This whole deal is about an "interest" prohibition?


Michelle Malkin: "I work as a corporate lawyer at a large law firm that has a speciality in Islamic finance. The real reason Dubai Ports World is undergoing the transaction is because of an Islamic finance vehicle called the sukuk. The sukuk is essentially a commerical paper type of Islamic financle vehicle--it is essentially a 'fake' bond to work around the Muslim prohibition on interest"

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