The league tables reveal where Dubai Islamic Bank (DIB) achieved its greatest success last year. It ranked only behind Malaysia’s CIMB as the biggest bookrunner of Islamic bonds in 2006, according to Ifis, a leading data provider. Admittedly this is based on lead managing only three transactions but two of those were Dubai Ports’ $3.5 billion pre-IPO convertible bond and Nakheel’s $3.52 billion convertible sukuk. Both Dubai Ports and Nakheel are subsidiaries of Dubai World, a quasi-government holding company.
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