Photographer: Razan Alzayani/Bloomberg

Odd Lots: Why a Natural Gas Company Is Shaking the Islamic Finance World

A $2 trillion industry, shook.

 

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Every week, hosts Joe Weisenthal and Tracy Alloway take you on a not-so-random walk through hot topics in markets, finance and economics.

Earlier this month, Dana Gas, a UAE-based company, rocked the world of Islamic finance by announcing that one of its Shariah-compliant bonds was, well, no longer Shariah-compliant. The move sent shivers down the spine of the Islamic finance industry, now estimated to be worth some $2 trillion in assets.

On this week's episode of the Odd Lots podcast, we speak to veteran Dubai-based journalist and columnist Frank Kane about the rise of Islamic finance -- what it is, how it works and why it's grown so fast -- and why the Dana Gas announcement is such a big deal.

 

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