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Bermuda is globally recognised as a centre of excellence in a broad range of aviation matters, including aviation financing and aircraft registrations. Its history, reputation and profile in the business community offer a high level of comfort to investors and onshore regulators. As highlighted in Q4 2009 by the GE sukuk, the first ever sukuk to be issued by a Fortune 500 company, Islamic finance practitioners are increasingly choosing Bermuda as the jurisdiction for Islamic finance transactions involving the financing of aircraft, including sukuk issuances backed by aircraft. This article explores some of the reasons why Bermuda is a compelling choice for Islamic finance transactions using aircraft as an asset base.
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Bermuda: A Domicile of Choice for Shariah Compliant Structures Using Aircraft as an Asset Base