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Airbus To Set Up Islamic Financing Organization  
User currently offlineFlying-Tiger From Germany, joined Aug 1999, 4161 posts, RR: 36
Posted (7 years 2 months 1 week 4 days 13 hours ago) and read 3444 times:

Seems that Airbus is laying the foundation for further deals in the Middle East / Islamic World (i.e. Northern Africa, Indonesia or Pakistan):

Quote:
Kuwait's Islamic firm Investment Dar is in advanced talks with European plane maker Airbus to set up a joint venture to finance aircraft purchases, a newspaper said on Saturday.



Quote:
Investment Dar would own 30 %, while Airbus would get 20 % of the new firm, the paper said.

The details of the deal would be announced next month, it said. The joint venture's business would be financing aircraft deals for governments or airlines compliant with Islamic law.

http://www.arabianbusiness.com/index...nt&view=article&id=495034&Itemid=1

Having this type of setup available might indeed be of great help in future sales campaigns.


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9 replies: All unread, jump to last
 
User currently offlineKC135TopBoom From United States of America, joined Jan 2005, 12138 posts, RR: 51
Reply 1, posted (7 years 2 months 1 week 4 days 10 hours ago) and read 3308 times:

Is Airbus going to have a similar deal with the Vatican?

This really does not make any good business sense. What is the difference between an "Islamic law complient" airplane, and any other airplane Airbus builds?


User currently offlineBreiz From France, joined Mar 2005, 1917 posts, RR: 2
Reply 2, posted (7 years 2 months 1 week 4 days 10 hours ago) and read 3295 times:

Quoting KC135TopBoom (Reply 1):
This really does not make any good business sense. What is the difference between an "Islamic law complient" airplane, and any other airplane Airbus builds?

It does make a difference. More about it here:
http://en.wikipedia.org/wiki/Islamic_banking

[Edited 2007-06-24 15:13:48]

User currently offlinePoitin From , joined Dec 1969, posts, RR:
Reply 3, posted (7 years 2 months 1 week 4 days 10 hours ago) and read 3295 times:

Quoting KC135TopBoom (Reply 1):
Is Airbus going to have a similar deal with the Vatican?

This really does not make any good business sense. What is the difference between an "Islamic law complient" airplane, and any other airplane Airbus builds?

Under Islamic law, you can not charge interest for money loaned. Boeing should do the same thing.


User currently offlineAirNZ From , joined Dec 1969, posts, RR:
Reply 4, posted (7 years 2 months 1 week 4 days 10 hours ago) and read 3267 times:

Quoting KC135TopBoom (Reply 1):
Is Airbus going to have a similar deal with the Vatican?

Sorry, what exactly was your point here?


User currently offlinePoitin From , joined Dec 1969, posts, RR:
Reply 5, posted (7 years 2 months 1 week 4 days 10 hours ago) and read 3255 times:

Quoting Breiz (Reply 2):
This really does not make any good business sense. What is the difference between an "Islamic law complient" airplane, and any other airplane Airbus builds?

It does make a difference. More about it here:
http://en.wikipedia.org/wiki/Islamic...nking

 checkmark  An excellent explanation!


User currently offlineBreiz From France, joined Mar 2005, 1917 posts, RR: 2
Reply 6, posted (7 years 2 months 1 week 4 days 10 hours ago) and read 3224 times:

Quoting KC135TopBoom (Reply 1):
Is Airbus going to have a similar deal with the Vatican?

Historically and theologically speaking, Airbus should.
Similarly to the Islamic religion, and before it, the Catholic church originally forbid true believers to practice usury. That is why the main bankers of the time were Jewish people and later Protestants.
http://en.wikipedia.org/wiki/Usury


User currently offlineDEVILFISH From Philippines, joined Jan 2006, 4813 posts, RR: 1
Reply 7, posted (7 years 2 months 1 week 4 days 9 hours ago) and read 3123 times:

Quoting KC135TopBoom (Reply 1):
Is Airbus going to have a similar deal with the Vatican?

I doubt the Vatican would want another Banco Ambrosiano.  Wink

Quoting Poitin (Reply 3):
Under Islamic law, you can not charge interest for money loaned. Boeing should do the same thing.

Hasn't it been (of late) refined to mean "usurious" (i.e., excessive) rates of interest?



"Everyone is entitled to my opinion." - Garfield
User currently offlineZeke From Hong Kong, joined Dec 2006, 9038 posts, RR: 75
Reply 8, posted (7 years 2 months 1 week 4 days 9 hours ago) and read 3114 times:

Quoting Poitin (Reply 3):

Under Islamic law, you can not charge interest for money loaned. Boeing should do the same thing.

They already do, AFAIK EK & PK to name a few have their 777s partially funded through Islamic funding with the US government export import bank (EXIM) underwriting the guarantee.



We are addicted to our thoughts. We cannot change anything if we cannot change our thinking – Santosh Kalwar
User currently offlineIkramerica From United States of America, joined May 2005, 21516 posts, RR: 60
Reply 9, posted (7 years 2 months 1 week 4 days 8 hours ago) and read 3007 times:

Quoting DEVILFISH (Reply 7):
Hasn't it been (of late) refined to mean "usurious" (i.e., excessive) rates of interest?

No, from how I understand it, you don't charge interest, but you either provide less money than the contracted payback amount or you charge a fee for providing "free" money, among other structures. It's a trick to get around the idea that nobody is supposed to profit from lending money.



Of all the things to worry about... the Wookie has no pants.
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