(Reuters) - The bonds, like traditional Islamic bonds known as sukuk,
are asset-backed. But unlike sukuk, they allow buyers direct
access to the underlying asset. These are kept separate from the
borrower, arranger Morgan Stanley said.
The assets used to back Tamweel's bonds were
lease-to-purchase contracts on residential properties -- a
method of buying homes that complies with Islamic law.
Read more at Reuters.com Bonds News
are asset-backed. But unlike sukuk, they allow buyers direct
access to the underlying asset. These are kept separate from the
borrower, arranger Morgan Stanley said.
The assets used to back Tamweel's bonds were
lease-to-purchase contracts on residential properties -- a
method of buying homes that complies with Islamic law.
Read more at Reuters.com Bonds News
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