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Dubai's Tamweel picks banks for roadshows
Source: BI-ME with Reuters , Author: Posted by BI-ME staff
Posted: Mon June 18, 2012 8:46 am

UAE. 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.

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: April 17, 2014
KUWAIT. According to a newly released report by Kuwait Finance House Research, the global sukuk market saw a modest volume of US$31.14 billion in new sukuk issuances in 1Q2014. This volume represents a drop of 9.82% compared to US$34.53 billion worth of issuances in 1Q13.
date:Posted: April 16, 2014
INTERNATIONAL. The WGC pointed out that the Chinese bank savings amount to US$7.5 trillion but only about US$300 billionn is allocated to gold, signifying the potential for gold demand to grow as Chinese wealth climbs.
date:Posted: April 16, 2014
UAE. "A similar drop to 2013 is unlikely. Those who wanted to get out of gold did, and the rest of 2014 will probably be a year of sideways trading."
SAUDI ARABIA. The GCC said in a statement that foreign ministers of the six-member body had met in Riyadh for a comprehensive review of measures used to implement foreign and security policies.
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