It is hard to believe how Islamic finance, based on ideals of fairness, would be involved in a deal for ultra-luxury cards.
However, given that the financiers are oil-rich Gulf states, there is no wonder that development of poor countries and raising the standard of living are not priorities ...
Kuwait's The Investment Dar (TID) has received international recognition for its lead in the landmark GBP479m acquisition of the Aston Martin Car Company in the UK.
This came at the inaugural Islamic Finance Awards at the London Sukuk Summit which was held at the Royal Horse Guards Hotel in Whitehall on 20 June 2007.
INVESTMENT DAR received 'The Most Innovative Islamic Financing Transaction' Award for the Aston Martin acquisition. Five other Awards were also given including one for 'Outstanding Contribution to the Development of an Islamic Capital Market' to Dr Zeti Akhtar Aziz, Governor of Bank Negara Malaysia, the central bank, for her role in establishing Malaysia as the most developed Islamic capital market in the world; and one for 'Outstanding Contribution to the Development of Islamic Finance in the UK' to Lord George of St Tudy, the former Governor of the Bank of England.
It was the then Eddie George during his two terms at the Bank of England between 1993-2002, who set up the Islamic Finance Advisory Group that facilitated the introduction of Islamic mortgage products in the UK after the removal of the double stamp duty for such products.