Scuppered by sukuk

Dubai World was bailed out by Abu Dhabi in December, but the near default of sukuk issued by Dubai property company Nakheel could have much broader implications for the development of Islamic finance.


Investors in Islamic debt issued by Nakheel, a Dubai property company, breathed a sigh of relief in December when the government of Abu Dhabi stepped in to provide $10 billion of support to Dubai World, a holding company and parent of Nakheel, via the Dubai Financial Support Fund, a vehicle set up to support government-related entities. Nakheel was in danger of defaulting on its December commitment to repay $4.1 billion on maturing sukuk, and the bail-out meant those investors at least will not

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here