The Abu Dhabi Investment Authority (Adia) may depart from its long-standing tradition and begin investing in the local market by buying bonds planned by the UAE Government and other institutions, a key Saudi bank said yesterday.
Although it has not specified the size of the planned sovereign bond issue, the UAE Federal Government will not find any difficulty raising money from local and foreign markets given its high rating and strong financial position, Samba Financial Group, previously known as Saudi American Bank, said in a study.
It noted that such a strong position would enable the UAE to repay any debt on time and push ahead with plans to guarantee bonds issued by local banks.
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