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Kogod in the Media/December 2009


Faculty, Programs, & Quotes

Kogod Professor Nakshbendi Interviewed by Voice of America
International Business Professor Ghiyath Nakshbendi was interviewed by Voice of America about Dubai's recent financial news concerning the possible reschedule of its corporate loans. Nakshbendi believes the problems are linked to a worldwide collapse in real estate prices. "Emerging markets are as victim to the world meltdown as any other economy and there are no exceptions," he said. Listen Now. (12/3/09)

Kogod Professor Ghiyath Nakshbendi interviewed by Voice of America
International Business Professor, Ghiyath Nakshbendi was recently interviewed by Voice of America about, "How Islamic Finance Works." The interview discusses Dubai's recent debt problems, and the attention to the growth of Islamic finance. The conversation further discusses the differences between Western and Islamic finances and beliefs about charging interest on borrowed money. Professor Nakshbendi was interviewed to discuss Dubai's recent financial news concerning the possible reschedule of its corporate loans. Nakshbendi outlined "The bank will estimate its costs based on its fixed costs, variable costs, the cost of their employees, the rent and so on and so forth. And from that they estimate how much they are going to charge." He further points out that Isalmic financing requires the lender and borrower to share profits and losses. This is what that means with Islamic bonds, called "suksuk." Listen Now. (12/10/09)

Kogod Professor Robin Lumsdaine Quoted in American Banker
Robin Lumsdaine, Crown Prince of Bahrain Professor of International Finance, was recently quoted in an American Banker article titled “Hill Focused on Side Issues, Not Causes of Crisis.” The article examined Congress’ investigation of the financial crisis and the collapse of Wall Street. The House Committee on Oversight and Government Reform has spent more time probing the deal between Bank of America and Merrill Lynch, than more important matters such as the Troubled Asset Relief Program (TARP), the role of government-sponsored enterprises, and the actual cause of the financial crisis.

Lumsdaine commented on the extensive hearings conducted by the Committee related to the deal. "If you think about how much weighty stuff they have to deal with and the limited amount of time to gather information to make very important decisions, it seems the time could have been better spent," she said. The article cites specific examples of some possible avenues for greater focus; for instance, whether insurance companies should be federally regulated or how systemic risk should be defined in the future. Full Article. (12/17/09)

Kogod Dean's Trip to Middle East Featured in Bahrain Newspapers
During Dean Richard M. Durand's December trip to the Middle East, he met with representatives from a number of peer institutions, including the Royal University for Women in Bahrain. RUW is a private university that was established less than five years ago; there are opportunities for female students to study finance and banking, business administration, and fashion, and to earn an MBA. The dean's visit at RUW was covered by newspapers in Bahrain. For more on the dean's time abroad, visit his new blog, Dean's Exchange, at