ICD demos Dubai’s Islamic edge with sov wealth sukuk

dubai waterfront
By Dan Alderson
08 May 2014

Investors have hailed the Investment Corporation of Dubai’s decision to issue a dollar sukuk as a sign that the emirate is genuine about its push to become the centre of the Islamic economy. ICD began roadshows on Thursday in Singapore as it lines up a dollar debut.

“I think that this provides clear evidence that Dubai is, where practically possible, embracing Islamic finance,” said a United Arab Emirates based investor. “The proceeds will have to be used in a Shariah-compliant manner but this is possible with ICD due to the nature of its investments.”

ICD, ...

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