Banks should be careful about rushing into bond foreclosure proceedings, when the arrears owed are not significant. Instead, the bank should try to engage with the consumer and see if a settlement can be negotiated to prevent foreclosure and the consumer losing their home. In FirstRand Bank Limited v Makaleng, Mr Makaleng was in arrears … Continue reading
The South African government issued its debut $500 million sukuk in 2014. The sukuk was four times oversubscribed, highlighting the appetite for this product. There have been a number of sovereign backed sukuks of this nature across the Muslim world and elsewhere, such as the UK, where the government issued its first sukuk in 2014. … Continue reading