Letters comment on securities as a regional tool for finance

Letters to the Editor consider the influx of Libyans to Malta, the recent exoneration in a case of alleged abuse of a child, the row over celebrities who were affiliated with the Qaddafi regime and standards of news coverage.

Amid a recent row over celebrities consorting with disgraced dictators, a reader mentions Beyonce as one of the entertainers who has earned massive fees from Colonel Muammar Qaddafi. Robyn Beck / AFP

In reference to the story Dubai takes new road to funding (April 8), the surprise is that it took so long for a Gulf nation to embark on securitisation, which is a pretty standard finance tool for big projects, especially municipalities in the West, East Asia and increasingly in countries in the region like Turkey and Iran as well.

There were headlines made in the 1990s when a British rock star sold his future music revenue for $50 million to a bank.

While the UAE has taken a careful step towards modern finance that arbitrates risk and enhances execution because of better governance, we have yet to see progress towards bankruptcy laws; or exchanges and over-the-counter deals allowing structured products, without which no region can grow and protect its trade and financial futures.

Since Islamic finance is being effectively marketed, it is time to think about introducing such products under the "halal" banner in a legitimate way. Also big projects like Masdar should have such instruments embedded for a more market-oriented approach that helps with validation. More homework means more competitive gains in challenging global times.

Athar Mian, Abu Dhabi

Malta benefitting from Libya unrest

I agree with the report Malta poised to benefit from turmoil in Libya (April 7) . Malta has partially gained from the current situation in Libya. Many tourists have come to Malta, and hotels are fully booked.

Another point, the UAE has invested, and is still investing, in Malta in long-term projects.

Daniela Camilleri, Malta

Many artists take money over ethics

In relation to the editorial Changing tunes (April 8), recently it came out that Nelly Furtado, Mariah Carey, Beyonce, 50 Cent and Usher have all performed for the Qaddafi clan.

But Sting, Jay-Z, Lindsay Lohan, Jon Bon Jovi, Lionel Richie, Manic Street Preachers, Bob Marley, James Brown, Celia Cruz, BB King, Miranda Kerr, Victoria Silvstedt, Naomi Campbell, Kevin Spacey, Danny Glover, Sean Penn and Oliver Stone have all either played for, received gifts from, visited or partied with the likes of Colonel Muammar Qaddafi, Robert Mugabe, Mobutu Sese Seko, Fidel Castro, Charles Taylor and Hugo Chavez, all despots whose regimes were guilty of a laundry list of crimes.

Nelly Furtado and Mariah Carey each received $1 million, and Beyonce received $2 million from Col Qaddafi. Sting earned $2 million from Gulnara Karimov, daughter of Uzbek dictator Islam Karimov.

As Andy Warhol said: "Making money is art."

Derek Czajkowski, Oman

Questions raised after acquittal

The acquittal of the three accused persons in the child sex abuse case (Judge guilt and innocence only in a court of law, April 8) has come as a big relief for the people who were so concerned for the safety of their children in the hands of the bus drivers and supervisors.

One thing that is still worrying is that if the defendants decide to bring a civil suit against the parents that complained for compensation and their application is granted, it could have negative impact on society. People would not be likely to go to the police to report a case of child abuse even if they suspected that their child had been abused.

Muneer Ahmad, Abu Dhabi

More demanded from coverage

I subscribe to and like The National. However, there is an irritating style of reporting that is beginning to dominate many news items.

If something happens or goes wrong, there are many examples of how people have been affected, and what they think. To an extent, this is valid, because it provides human interest, and gives context. However, it is also totally subjective.

The National seldom goes to the root of the problem and gets a response from the authority or agency responsible for whatever the article is about.

A recent example was the multiple car crash. Anecdote after anecdote from drivers, and their opinions, but nothing from the police about what they are going to do about it; no incisive questions about why the police do not enforce the rules or the police response to such questions.

Mark Fisher, Abu Dhabi

Reproductive health is vital

We should care more about sexual health, Vaccinations attack cervical cancer (April 5). Websites that track sexually transmitted diseases (STDs) estimate that 70 million people are living with STDs in the US alone, as well as an estimated 400 million people worldwide.

Susan L, Abu Dhabi