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Ras Al Khaimah issues USD 1 bn sukuk, which was 4.4x oversubscribed
The Reg S benchmark sukuk comes as part of the RAK Government’s USD 2 bn Trust Certificate Issuance program
RAK attracts over USD 2 bn in orders for 10-year sukuk
Total sukuk issuance volume from UAE-based issuers reached USD 14.4 bn in 2024
Ras Al Khaimah plans 10-year Reg S USD-denominated benchmark sukuk
A USD-denominated Reg S issuance is a subordinated USD-based financial instrument offered to non-US investors
Northern Emirates saw c.3% rental rate growth for most of 2024 as more Dubai tenants relocate
Ras Al Khaimah led the Northern Emirates with a 78% jump in transaction values
Emirati institutions dominate the Stevie Awards in Ras Al Khaimah
66 public and private institutions from the UAE won 157 awards
Mashreq launches Mashreq Biz, an SME-focused online banking platform
PLUS: Drake and Scull secures AED 1 bn Arabian Hills contracts
Lunate’s Chimera ETF lists on ADX, boosting Abu Dhabi’s ETF count to 16
Plus: Stocks listed on the ADX can now be bought and sold on global trading platform eToro
THIS MORNING: Tabreed eyes USD 2 bn NCD issuance as it looks to refinance debt + Arab states push alternative Gaza plan with potential USD 20 bn in funding
Plus: New littering fines in Abu Dhabi
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