Rasameel Structured Finance Company (Rasameel), a Kuwait-based Islamic structured finance investment company, said it plans to create a working group of capital market creditors of Nakheel and Dubai World from the Gulf and Mena region.

The move is in response to the statement made by Government of Dubai and the Department of Finance on November 25, said a senior official.

Rasameel will co-ordinate the group to ensure a unified position is presented to the Dubai Financial Support Fund (DFSF) and the chief restructuring officer in respect of GCC/MENA capital market creditors, said Adam Macdonald , vice president, Head of Structured Finance, Rasameel.

The key objectives of the working group will be to create a unified platform for addressing the interests of the creditors with the DFSF and CRO and also ensure an equitable settlement in the interests of all GCC/MENA capital market creditors is achieved, he added.

Rasameel is the culmination of a successful partnership between a group of independent, well-established companies prominent institutional and private shareholders.-TradeArabia News Service