Mashreq Bank , Dubai's second-largest lender by market value, is working with three entities for potential dirham-denominated benchmark sukuks, the head of its Islamic unit said on Monday.
The issues could hit the market next year, Moinuddin Malim, the chief executive of Mashreq Al Islami, told Reuters on the sidelines of a conference in Abu Dhabi.
"We are working with three entities, both corporates and government-related entities (GREs) to help them tap the domestic market," he said. "We have huge liquidity and there is demand for the right price."
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