Majid Al Futtaim appoints banks to manage $1bn sukuk

Four banks were chosen by Majid Al Futtaim (MAF) Holding to manage its first Islamic bond issuance programme. The four banks are: Dubai Islamic Bank, Abu Dhabi Islamic Bank, HSBC and Standard Chartered.
The proceeds are anticipated to fund expansion plans worth $2bn for malls and shopping centres in Lebanon, Egypt and Syria, alongside plans for a hypermarket in Erbil, Kurdistan.

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