Several UAE corporates finalizing Sukuk issues

Several UAE corporates finalizing Sukuk issues

burj al arab

Several UAE-based corporates are finalising plans to launch sukuk issues, which have slowed down since the spreading and deepening of the financial crisis from mid-2008, according to an Islamic finance expert.

Talking to Emirates Business, Dr Hussain Hamid Hassan, Chairman of Dubai Islamic Bank (DIB) Shariah board, said: "You will see several sukuk issues hitting the market within months."

With "back to basics" emerging as the most-sought-after catchphrase in the financial services industry during the current crisis, Islamic fund raising programmes are fast gaining popularity in the GCC markets, industry experts said.

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