If two worlds would meet in Luxembourg: Islamic finance and shipping

Historically, ship finance was undertaken by banks based in Hamburg, Germany, and these banks have been hit so hard that a few of them were close to bankruptcy. Considering the massive drop in tonnage prices, the credit committees of most banks have drastically reconsidered their lending strategy. Vessels are by nature Shariah compliant investments; this is an excellent opportunity for Islamic banks to step in to fill the financing gap left by the conventional banks and to become a viable alternative.

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