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Islamic Finance Briefing - Categorized | Bonds (Sukuk) more

JAFZ Sukuk holders approve early redemption of $2 bln

Posted on 28 May 2012

Jebel Ali Free Zone FZE, a business park operator in Dubai, will repay 7.5 billion-dirhams ($2 billion) of Islamic bonds ahead of schedule, the latest of the emirate’s companies to settle financial obligations early.
The majority of sukuk investors who voted for the plan will be “entitled to receive the consent fee of 100 dirhams per 100,000 dirhams in principal amount of the certificates” on or about May 29, Jebel Ali said. The floating-rate notes that comply with Islam’s ban on paying interest are due in November………………………………………..Full Article: Source

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