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Islamic Finance Briefing - Categorized | Bonds (Sukuk), Performance more

Tamweel bonds surge most in year as DIB raises stake

Posted on 28 September 2010

From Bloomberg: Islamic bonds of Tamweel PJSC rose the most in almost a year after Dubai Islamic Bank PJSC received government approval to purchase a majority stake in the mortgage lender hit by Dubai’s property slump.
The price on the 4.31 percent sukuk due in 2013 climbed to 83.5 cents on the dollar at 3:47 p.m. in Dubai, according to Barclays Capital Group prices on Bloomberg. That is a 13 percent increase, the biggest since Oct. 13, from the 73.7 cents close on Sept. 24, according to Bloomberg prices……………………………………….Full Article: Source

 
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