FINANCE - GENERAL - Islamic financial institutions to restructure debts

Mideast finance leaders anticipate reforms in the post global financial crisis climate with 66% believing the industry is under-regulated.

Dubai: Over half of the Middle East's Islamic finance institutions (IFIs) flagged a need for raising capital and are likely to restructure current Islamic debt over the next 12 months, according to Deloitte's Islamic Finance leaders survey in the Middle East, the results of which were released yesterday.

OPINION - Indonesia Reviews Shariah Loan Restructurings: Islamic Finance

original post : http://islamicfinanceindonesia.blogspot.com/2010/08/2010-august-18th-indonesia-reviews.html

 As you ca imagine, my attention got drawn to this news item.


The following passage was the most important : “Shariah banks have asked that loans that are still current can be restructured,” Mulya Siregar, director of Islamic banking at the central bank, said in an interview in Jakarta yesterday. “We’re having intensive discussions and will make a decision by the fourth quarter at the latest.” Current regulations issued in 2008 only permit terms to be altered once debt turns non-performing, Siregar said."