Goldman advisor says completed work on sukuk
Dar Al Istithmar finished receiving the approval of Islamic scholars for the issue and the next move is depending from now on on Goldman.
Goldman's plan was to become one of the first top Western banks to gather money through Islamic bonds, but it attracted controversy in the industry, and the bank has not so far continued with the plan.
Some analysts have implied that Goldman might use the proceeds of the sukuk to lend money to clients for interest, which would not comply with Islamic law, and that the issue might not trade at par value on the Irish exchange, which would also contravene sharia law.
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