Islamic Finance
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Key Turkey fund setback for Ithmaar Bank
Bahrain-based Islamic retail bank Ithmaar Bank has announced that its Shamil Bosphorus Modaraba fund would not achieve its investment objectives and it was unlikely that investors would have their entire capital returned. Modaraba is a form of Islamic financial contract in which the investor (rab-ul-mal) entrusts money to a financial…
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Click here to read the full story: Gulf Daily News