Dubai Islamic Bank (DIB) has hired banks to prepare a sukuk sale that asset managers say reflects an increasing appetite for risk among global investors. The world’s first Sharia-compliant commercial lender said it had hired Emirates NBD Capital, HSBC, National Bank of Abu Dhabi and Standard Chartered for investor roadshows beginning next week.
A benchmark dollar perpetual Tier 1 sukuk may follow, “subject to market conditions”, the bank said in a statement to the Dubai Financial Market. This Islamic bond is a particularly complex instrument and “right at the riskier end of what we’ve seen to date out of the GCC”, said Doug Bitcon, the head of fixed income and portfolios at Rasmala Investment Bank………………………………………..Full Article: Source