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Dubai’s Tamweel picks banks for roadshows; sukuk may follow

June 18, 2012 12:00 by Reuters

Dubai-based Islamic mortgage lender Tamweel has picked banks to arrange investor meetings in Asia, Europe and the Middle East ahead of a possible dollar-denominated Islamic bond, or sukuk, arrangers said on Monday.

Tamweel, a unit of Dubai Islamic Bank, has mandated Abu Dhabi Commercial Bank, UBS and Emirates NBD to arrange roadshows, which begin on June 19 in Abu Dhabi and end in London on June 25.

Any eventual sukuk issue will be backed by properties and receivables located in Dubai, arranging banks said. It will be listed on the Irish Stock Exchange.

(Reporting by Rachna Uppal; Editing by Dinesh Nair)

Tags: Dubai, investor meetings, roadshows, sukuk, Tamweel, UAE

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