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Islamic Finance Briefing - Categorized | Bonds (Sukuk), Market Moves, People more

Mohammed’s initiative to spark sukuk boom

Posted on 01 March 2013

A landmark announcement by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, to turn the emirate into a global centre for sukuk (Islamic bonds) is expected to trigger a boom in sukuk issue in the region’s commercial and investment hub.
Reacting to the initiative, the latest in a series of aggressive economic overtures by Sheikh Mohammed, local officials and analysts described it as a major step towards achieving the ultimate goal of turning Dubai into a world Islamic economic capital. One official said the sukuk initiative would also give a strong push to the UAE economy, the second largest in the Arab world after Saudi Arabia………………………………………..Full Article: Source

 
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