commercial paper is an unsecured, short-term debt instrument issued by a corporation, typically for financing working capital and meeting short-term liabilities. it is one of the most important financial instruments that constitute a significant portion of issued debt securities in financial markets. nevertheless, commercial paper, like many other conventional financial instruments, has been st...

What is Islamic Finance? There are at least three characteristics which makes it different from the conventional debt finance. First, it prohibits riba or interest, or in other words a fixed and pre-determined rate of return to be paid on the deposits or to be received from the borrowers. The rate of return is variable and determined by the profit and loss that the bank makes during a given per...

The key role of transport infrastructure in the emerging European network has provoked many questions as to the financing of new infrastructure. In the course of the twentieth century govemments in all countries have assumed responsibility for financing transport infrastructure. In the past decade, however, serious doubts have been expressed on the efficiency of a strong public financial involv...