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Middle EastMay 4 2009

Can Islamic finance plug the funding gap?

The global financial crisis has limited the finances available for major projects in the Middle East. But this could be an opportunity for Islamic financiers to come up with sharia-compliant finance to make up for the shortfall of Western funds. Writer James Gavin
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Can Islamic finance plug the funding gap?

The clogged-up arteries of the global financial system have constrained the availability of project financing, leaving a void that many projects sponsors are struggling to fill.

For Islamic financiers, the draining of conventional liquidity from the system presents an opportunity to ensure that sharia-compliant tranches remain on the structured finance menu if and when activity does pick up again.

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