UAE Announces the Listing of USD 200 Million Sovereign Sukuk Murabahah

The Government of Sharjah (the Government) in the United Arab Emirates (UAE) has listed a USD 200 million Sukuk, through its Trustee, Sharjah Sukuk Programme Limited.

The sovereign Sukuk, which was issued on the 19th of March 2020, is set to mature on the 19thof March 2035. The financing facility carries a profit rate of 3.85%, payable semi-annually, with the first payment scheduled for the 19th of September 2020.

According to the IslamicMarkets Sukuk Monitor, the proceeds from the Sukuk programme will be paid over by the Trustee to the Government as the purchase price for the assets, additional assets, or by way of commodities, as per the stipulated agreement.

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