Published: Sep 18, 2014
Source: Emirates 24|7

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ME banks buy majority of Goldman sukuk

Middle Eastern banks bought the vast majority of a debut $500 million sukuk issue by Goldman Sachs, a positive sign for other conventional banks hoping to tap the region's liquidity by issuing Islamic debt, according to data from lead managers.

Goldman priced its five-year sukuk on Tuesday at a profit rate of 2.844 per cent, drawing about $1.5 billion of investor orders, after roadshows in Qatar and the UAE -By Reuters. Read more>>>

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