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Dubai’s JAFZA in debt talks, rules out government aid

Posted on 12 December 2011

Dubai’s Jebel Ali Free Zone (JAFZA) is confident it can refinance a $2.04-billion Islamic bond due next year without government support and it does not rule out asset sales to help raise funds, its chairman said on December 06.
Hisham Abdullah al-Shirawi told Reuters on the sidelines of a business forum that the Dubai World unit was in talks with “many financial institutions and others” to refinance the dirham-denominated Islamic bond, or sukuk, due in November 2012………………………………………..Full Article: Source

 
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