Emirates NBD mulls sukuk issue

30 November 2011: Emirates NBD, the UAE's largest bank by assets is planning to explore opportunities for selling dollar-denominated Islamic bond, or sukuk, for the first time and its size is expected to be decided in the next 15 days. The bank is considering a five-year security and will look at markets where there is demand.

The bank is looking at the opportunities in the sukuk arena and its just reviewing its options. Emirates NBD could mandate banks as early as this week quoting four banking sources. The bank has drawn up a shortlist of seven or eight banks from which it will select the institutions which will manage the sale. This list includes National Bank of Abu Dhabi, Standard Chartered, HSBC, Citi, Royal Bank of Scotland etc.

Source: Zawya