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The government of Dubai has issued a sukuk for the first time in four years, proving that even amid historically low oil prices and a global pandemic, funding options remain for the Gulf’s sovereigns.
Gulf countries are facing the perfect storm of low oil prices, economic slowdown and a global health pandemic. Dubai, the region’s most open economy, a tourist destination and regional business hub, is particularly exposed to the economic slowdown.
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Khalid Rashid, |
The Dh1 billion eight-year sukuk issued by the government of Dubai at 4.7125%
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