A growing number of local investors are viewing Gulf sukuk as a safe investment option amid continuing volatility across regional equity markets.
Emirates Islamic Bank, a unit of Emirates NBD, announced yesterday it had completed the issuance of $500 million (Dh1.8 billion) worth of sukuk maturing in 2017. Last week, Abu Dhabi-based lender First Gulf Bank said its $500 million sukuk was oversubscribed 2.8 times, fetching $1.4 billion in the process.
Several UAE lenders have issued Islamic bonds in recent weeks with Dubai-based banks in particular paying a premium as debt maturities loom on the horizon.
No comments:
Post a Comment