Tuesday, 19th April 2005 (2826 views)

A road show touring various areas to promote the DMCC Sukuk has proved a huge success.

The Sukuk will allow investors to get payments in gold bullion rather than US dollars and the tour's response has suggested the new service will be oversubsribed.

Sultan Ahmed bin Sulayem said: "The Sukuk…sees the DMCC moving a step closer to the objectives set for it by the Government."

Both lead managers Dubai Islamic Bank (DIB) and Standard Bank (SB) confirmed there had been a positive response to the service.

The tour travelled to London, Geneva, Singapore, Kuala Lumpur, Kuwait and Bahrain and ended in Dubai on Monday.

A special ceremony marked the final stage of the tour, with key figures in attendance including the UAE minister of state for finance and industry and chairman of Dubai Islamic Bank (DIB), Sultan Ahmed bin Sulayem, executive chairman of Dubai Ports, customs and Free Zone Corporation and executive chairman of DMCC, and officials from the centre and participating banks.

 

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