Sharjah rules out immediate plans for more sukuk | Arab News — Saudi Arabia News, Middle East News, Opinion, Economy and more.:
"The Gulf Arab emirate of Sharjah has no plans to become a regular issuer for now despite drawing demand more than 10 times the value of its $750 million debut
sukuk issue, the director of its debt management office told Reuters on Thursday.
Although it is developing its tourism and manufacturing industries, the third largest UAE member lacks the oil resources of Abu Dhabi and the commercial draw of neighboring Dubai. "We do not have any short-term plans to come back to capital markets," Tom Koczwara said.
"We structured this (the sukuk issue) as a standalone. The process has gone well ... so if it fits our strategy we are very confident we can do it in the future," he said, noting there were no immediate plans to draft an issuance program."
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