Don't Call It Interest

Morais, Richard C.
July 2007
Forbes Asia;7/23/2007, Vol. 3 Issue 13, p104
The article discusses how the financial services industry in the Middle East arrange financial transactions without running afoul of sharia, or Islamic law. Since the Koran forbids interest, almost any hedge fund is not allowed. So instead of buying a hedge fund, they buy a structured note whose return is tied to an index of hedge funds. Such a product was introduced by Dubai Islamic Bank, Deutsche Bank and Goldman Sachs Asset Management.


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