Saturday, February 16, 2008
Sharia bonds
Buy, Pepe, buy! Sharia-compliant bonds were designed to get round the ban on paying interest – "riba" in Islamic law. The Koran says it is sinful to make money from money. Unlike a conventional bond which is debt-based, a "sukuk" is asset-based. Instead of receiving interest, bond holders receive "rent" on the asset, thereby complying with sharia law. Perfect for you.
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1 comment:
How long before we see a Wahab funded Institute for Mathematical Sharia Financing at ye not so olde Harvard Business School?
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