Al Futtaim in Sukuk drive
Majid Al Futtaim Holding is going to issue a Sukuk program. It seems that the move has been implied as the firm finds it difficult to raise finance through the conventional route as market volatility and uncertainty abounds.
The company had tried to gather $2bn in a conventional medium-term notes program earlier in the year, but despite undertaking a roadshow to advertise the bond, had withdrawn the notes before launch because of poor market conditions.
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