Malaysia turns to Islamic banking to fund military upgrade, MARKET INTELLIGENCE

[bhramos]

Malaysia's Ministry of Defence (MINDEF) is considering the use of an Islamic banking system known as "sukuk" to pay contractors working on a project to upgrade military bases.


Defence Minister Datuk Seri Ahmad Zahid Hamidi was quoted by state news service Bernama as saying on 12 July that the system would be implemented following a review from the finance ministry.

http://www.janes.com/articles/Janes...Islamic-banking-to-fund-military-upgrade.html