Sharjah to issue its first debut sukuk in 2016

09 Jul 2014

(MENAFN) Three bankers said that the emirate of Sharjah intends to invest in international bond markets in a debut sukuk deal, according to Arabian Business.

The bankers also said that the emirate plans to appoint a number of banks to supervise the transaction, and is expected to sign deals in September.

A state-owned major bank plans to issue two sukuk bonds; the first to be issued in 2016 and worth USD400 million, and the other will be issued in 2018 worth USD500 million.

Sharjah would become the fourth emirate from the United Arab Emirates to issue bonds after Abu Dhabi and Dubai, Ras Al Khaimah (NR/A/A).

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