Mashreq to roll out three Sukuk
By John Foster
Dubai's Mashreq Bank is the process of structuring a number of UAE-dirham denominated benchmark Sukuk, according to reports from Abu Dhabi. Masreq al Islami, the bank's Islamic window's CEO, Moinuddin Malim, told reporters that the bank was working with three clients, from both the government and private sector who were looking to raise finance in the UAE market. The potential clients were attracted to the UAE, he said, because there was a great demand for Shari'ah compliant issues in the country. He also claimed the notes would be attractively priced. Malim declined a request for comment from The Islamic Globe.
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