Ras Al Khaimah picks banks for potential sukuk issue

Emirate’s Investment and Development Office will hold roadshows beginning on Wednesday

The emirate of Ras al Khaimah, one of the seven members of the United Arab Emirates, has picked five banks to arrange a series of meetings with fixed income investors ahead of a possible Islamic bond issue, lead managers said on Monday.

RAK, through its Investment and Development Office, will hold roadshows beginning on Wednesday, with a US dollar-denominated sukuk issue following subject to market conditions, the document from leads said.

Abu Dhabi-based Al Hilal Bank, Citigroup, Dubai's Mashreq, National Bank of Abu Dhabi and Standard Chartered have been chosen to arrange the meetings, which will take place in Singapore, Kuala Lumpur, the UAE and London.

Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

NOTE: Comments posted on arabianbusiness.com may be printed in the magazine Arabian Business

Please post responsibly. Commenter Rules

Posted by: Simon

Can somebody tell us how to buy these in UAE?

All comments are subject to approval before appearing

Further reading

Features & Analysis
The flood gates open

The flood gates open

Turkey’s new fondness for sukuk has been met with increasing...

"Sleeping giant" debt market awakes in Saudi Arabia

After years in which the growth of Saudi Arabia's bond market...

Gulf bond issuers see opportunity in Malaysia

Gulf bond issuers see opportunity in Malaysia

Gulf looks to tap Malaysian investors with ringgit issues; country...

Most Discussed