Middle East Economic Survey

VOL. XLVII

No 41

11-October-2004

CAPITAL MARKETS

AMLAK To Launch First Mortgage-Backed Dh500Mn Sukuk

AMLAK Finance, the property finance company which is majority owned by Dubais EMAAR properties with a 45% stake, is to launch the regions first Islamic mortgage-backed Dh500mn ($136.2mn) sukuk to fund its growing mortgage portfolio. The mandated lead arranger and underwriter of the sukuk will be HSBC Amanah. According to AMLAK Chief Executive MuhammadAli al-Hashimi, the...