Middle East Economic Survey
Dubai Sukuk Oversubscribed At Attractive Prices
The Dubai government issued Sukuk (a Shari'a compliant product similar to a bond) worth almost $2bn last week, securing attractive pricing from the market. The issue made in both dollar and dirham tranches totaling $1.25bn and Dh2.5bn ($680.7mn) respectively came in oversubscribed with a total of $6.3bn worth of orders from a diverse range of international and Middle Eastern investors. The...