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.
For the latest headlines, follow our Google News channel online or via the app.
The move will “enhance the country’s competitiveness in financial and banking indicators,” the media office said, citing the cabinet.
- UAE markets regulator gets first female CEO as Maryam Al Suwaidi takes charge
- UAE cabinet approves debt strategy for 2021-2023 to build local currency bond market
- UAE deepens money market with law allowing federal debt issues
- UAE plans initial coin offerings to boost capital markets
- Regulators take aim at murky UAE markets after Arabtec debacle