Majid Al Futtaim

UAE Sukuk market review

Zawya Investor lists 64 UAE domiciled Sukuk going back to the $100m Tabreed Sukuk issued in March 2004. Forty-six of these have been issued, with 17 Sukuk that have already reached maturity.
There are also six Sukuk that have been announced, but not yet issued, with the last one offering on the slab being the proposed Majid Al Futtaim Sukuk, which would partially or wholly replace a cancelled $2bn conventional issue slated earlier this year, but ultimately canned due to inopportune market conditions. Majid Al Futtaim stated that it had authorized Standard Chartered and HSBC to help arrange and place the issue.

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