Qatar Islamic Bank has announced that it faces exposure in the evolving debacle emanating from Dubai. This is particularly bad news for this institution since, back in March, it was in serious enough trouble to have been bailed out by the regime in Qatar:

http://www.shariahfinancewatch.org/2009/03/10/qatar-to-prop-up-its-banking-system/

$15 million doesn’t seem like a great deal of exposure, but one never knows the whole truth when it comes to Shariah Finance because disclosure is so poor and transparency is a foreign notion to the financial jihadists…

http://www.reuters.com/article/hotStocksNews/idUSGEE5B219A20091203?rpc=401&feedType=RSS&feedName=hotStocksNews&rpc=401

 

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