IslamicFinance.de

Dubai Islamic Bank (DIB) has postponed a planned issuance of U.S. dollar-denominated sukuk due to market conditions resulting from the new coronavirus outbreak. DIB was planning to raise the financing on Feb. 26, but decided to wait for better market conditions. The potential deal received a good response from investors while it was being marketed, but volatility in the debt markets as the coronavirus outbreak intensifies would have increased the sukuk profit rate. All the Gulf countries except Saudi Arabia have reported cases of the new coronavirus, many in people who had been to Iran, where 54 people have died from the virus and 978 have been infected.