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Dubai to issue $1.93 billion sukuk

The Dubai Government will issue a $1.93 billion Islamic bond, or sukuk, almost $600 million less…

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October 28, 2009 8:57 by



The Dubai Government will issue a $1.93 billion Islamic bond, or sukuk, almost $600 million less than initially reported, according to Zawya Dow Jones. Of the $1.93 billion sukuk, $1.25 billion will be dollar-denominated, and the remaining $681 million (AED2.5 billion) will be in dirhams.

The bond has received orders totaling $6.4 billion, which “is a good verdict on the issuance,” explained Timothy Fox, the chief economist at Emirates NBD.



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