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November 21, 2008 – President-elect Barack Obama is expected soon to name Timothy Geithner as the next Treasury Secretary, sources said Friday.
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Islamic finance had its start in the 1960s and 1970s with the influx of petrodollars into the Gulf region. The rapid development of Middle East markets--Saudi Arabia, Kuwait and the United Arab Emirates--has stoked interest in a type of finance that is based on the principles of Shari'a. Industry experts estimate that Islamic finance has enjoyed double-digit annual growth with nearly $1 trillion put to work in Shari'a structures. But the specialists on Wall Street who want to bring securitization to other parts of the world may have to consider that the collateral, or debt, repackaged into bonds has to meet strict guidelines that adhere to principles of Islam.
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Firm: LNK Partners
In the news: High-End, Or Dead End?
When Hellman & Friedman and Bain Capital Partners purchased Neuberger Berman from Lehman Brothers for $2.1 billion in September, the all-equity transaction illustrated more than just how private equity firms are adapting to the dearth of credit. It marked the end of the business model that has served as the buyout industry's cornerstone for more than two decades.
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