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Emirate of Sharjah hires banks for sukuk that could go up to $1 billion

Sharjah, the third-largest emirate of the United Arab Emirates, has hired banks to arrange the issuance of seven-year U.S. dollar denominated sukuk, or Islamic bonds, a document showed. HSBC was hired as global coordinator for the planned transaction and is joined by Bank ABC, Dubai Islamic Bank, Gulf International Bank,…

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