Lead arrangers have been holding investor meetings this week to pave the way for the Government of Sharjah’s second sukuk. The new sovereign bond, which is expected to be in excess of US$500 million, could be the first sovereign sukuk to be issued globally in 2016. Global rating agency Standard and Poor’s has forecast fewer sukuk issuances this year, possibly ...

American University of Sharjah (AUS) has appointed Hussain Al Mahmoudi as Chief Executive Officer of AUS Enterprises, a new holding company mandated to develop revenue-generating commercial activities for AUS via special purpose vehicles. AUS Enterprises was established by Amiri decree in November 2015. The appointment of the new CEO was approved by the AUS Board of Trustees, chaired by His ...

Sharjah headquartered United Arab Bank (UAB) has announced the successful closing of an US$120 million credit facility for client, Aegean Oil Terminal Corporation (Aegean). The credit facility marks the first syndicate lead for UAB, as it seeks to position itself as a lead arranger. Other syndicate members are Abu Dhabi Commercial Bank (ADCB), Commercial Bank of Dubai and National Bank ...