Abu Dhabi give Dubai another $10bn

[gingerpaul]

http://uk.reuters.com/article/idUKTRE5BD0DH2009121...

Dubai has been bailed out again with $10bn from Abu Dhabi.

An interesting point in the article for me is this:

"Dubai said $4.1 billion of the money received from Abu Dhabi was allocated to property developer Nakheel to repay its Islamic bond maturing on Monday."

Are there bigger consequences of not repaying an Islamic bond on time compared to repaying western money?

[GingerWizard]

gingerpaul said:

http://uk.reuters.com/article/idUKTRE5BD0DH2009121...

Dubai has been bailed out again with $10bn from Abu Dhabi.

An interesting point in the article for me is this:

"Dubai said $4.1 billion of the money received from Abu Dhabi was allocated to property developer Nakheel to repay its Islamic bond maturing on Monday."

Are there bigger consequences of not repaying an Islamic bond on time compared to repaying western money?

death by stoning is NOT the answer your looking for...... I think it has deeper religious conotations..

[gingerpaul]

I just thought that it was convenient that the money from Abu Dhabi arrived just before the bond matured and wondered what the penalties might be.

[gingerpaul]

Wait a minute, I smell something. An imposter! Get him!

[Bing o]

gingerpaul said:

Are there bigger consequences of not repaying an Islamic bond on time compared to repaying western money?

If you default on a sukuk, then the penalty is paid to charity, not the creditor.

[Bing o]

anonymous said:

[redacted]

Now now Tonks, that's not what Shariah law says with regards to sukuk defaults, I am sure the funds will be appropriated correctly by an Indonesian bomb factory orphanage.