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Middle East gas producer's bid to void debt baffles analysts

Dana Gas says it does not consider its two Islamic bonds issued four years ago as Syariah compliant

Dubai

A DECISION by a Middle Eastern gas producer to declare its own Syariah-compliant bonds unlawful has baffled investors in the US$2 trillion Islamic finance industry.

Sharjah-based Dana Gas PJSC said that it no longer considered its two Islamic bonds totalling US$700 million

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