While the worst of the crisis may be past for the emirate, Dubai's financial troubles have highlighted some of the thorny issues underlying the Islamic world's integration with worldwide finance.
The settlement everybody has been banking on still isn't a done deal, leaving investors with reason to be concerned that Dubai World's massive debt won't be repaid in a timely fashion. It has also led S&P to cut DP World's credit rating. The trouble isn't over yet.
The Dubai government says it will bail out the overstretched companies behind the emirate's ambitious real-estate developments. This is welcome relief for nervous markets and rattled creditors.