| GCC sukuk market continued to flourish with Saudi Arabia leading issuances for the first time and overtaking the UAE in Q1, 2012. The $4bn sukuk issuance by the General Authority of Civil Aviation was the first sovereign issuance in Saudi Arabia followed by a number of corporate sukuk issuances in the country.
Despite falling behind in the league tables, the UAE witnessed a number of sukuk issuances with Majid Al Futtaim raising $400mn, Emirates Islamic Bank and First Gulf Bank, both raising $500mn amongst the notable issuances in Q1 2012...............................................Full Article: Source
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