UAE to see trial launch of fractional sukuk under market authority supervision

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The United Arab Emirates approved on Tuesday the issuance of a trial license for a fractional sukuk project under the supervision of the market authority, the Dubai Media Office said.

Fractional sukuk use technology to digitally divide a sukuk, or Islamic bond, into small portions that can be sold to retail investors.

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The move will “enhance the country’s competitiveness in financial and banking indicators,” the media office said, citing the cabinet.

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