GLG News Analyses of the following article:

RBI to ask banks about their exposure in Dubai World

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Published at: economictimes.indiatimes.com

Nitish Grover, Principal, Owner

Nitish GroverPrincipal, OwnerNitish Grover and Associates What is a GLG Leader?|The Gerson Lehrman Group&reg; (GLG) Leader Program<sup>SM</sup> is our premium Member Program<sup>SM</sup>. Those identified as GLG Leaders are in the top 5% of GLG CouncilRank and have an exclusivity agreement with GLG.

Dubai Debt - Accounting, Economics, Islamic Banking and the Rules of Finance

November 29, 2009

The Middle Eastern countries and Islam do not believe in interest -money is not an asset and cannot have a cost (interest). It can only be traded in relation to some commodity. The present crisis has shown that if  a  cost is not attributed to money then the result  is  a  crisis. In this analysis I look at the effects of the Dubai debt crisis in relation to accounting rules.

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