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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
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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

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INTERNATIONAL. Unexpected developments can catch the herd wrong-footed and spark major movements when the masses scatter at the same time. When that occurs, those who resisted the herd may find themselves rewarded. We believe that we are approaching such a point.
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QATAR. QNB Group report examines recent developments and the outlook for the Qatari economy as it continues its strong growth based on large investment spending.
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INTERNATIONAL. This isn't about Netanyahu and Obama, and both know it. It is about the reconfiguration of a region the US cannot subdue and cannot leave. It is the essence of great power strategy: creating a balance of power in which the balancers are trapped into playing a role they don't want.
INTERNATIONAL. This isn't about Netanyahu and Obama, and both know it. It is about the reconfiguration of a region the US cannot subdue and cannot leave. It is the essence of great power strategy: creating a balance of power in which the balancers are trapped into playing a role they don't want.
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