The “Black Magic” Playboy who took Dubai Islamic Bank to brink of Collapse

Foutanga Babani Sissoko told a Dubai Islamic Bank branch manager he had black magic powers. The manager agreed and Sissoko ended up taking $242m from the bank, putting it on verge of collapse. In a BBC report, Brigitte Scheffer reported Mali national Foutanga Babani Sissoko persuaded Dubai Islamic Bank manager, Mohammed Ayoub he had magic powers with which he could take a sum of money and double i... »

7th August 2020
Sukuk that went Bust

When Sukuk Default As the sukuk market has developed a number of issued sukuk have defaulted for a variety of reasons. 1MDB – Malaysia In one of the world’s biggest financial scandals, billions of dollars from state fund 1Malaysia Development Berhad (1MDB) disappeared into the shadows of the global financial system. In 2016 as the scandal unfolded 1MDB defaulted on two sukuk it had iss... »

4th August 2020