Sovereign Wealth

Sovereign Wealth

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  • Mubadala Investment Co. aims to secure approximately $1 billion through its inaugural dollar-denominated Islamic bond sale, capitalizing on heightened investor interest in such debt. Abu Dhabi Commercial Bank PJSC, First Abu Dhabi Bank PJSC, and HSBC Holdings Plc will serve as global coordinators for the issuance adhering to Sharia principles.
  • The sale, anticipated as early as March, is being pursued to leverage the prevailing market conditions. While the parties involved declined to comment, this move follows Saudi Arabia’s recent successful issuance of a $2 billion Islamic bond.

Why it matters

The surge in demand for sukuk, driven by elevated oil prices, has bolstered liquidity conditions for Islamic financial institutions, despite a projected 6% decline in issuance volume for 2024 according to Moody’s.


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