Dubai – Mubasher: Sharjah hired HSBC to set up a US dollar sukuk programme as the government mulls borrowing to cut its budget deficit, Reuters quoted sources familiar with the matter as saying.
A first issue under the newly set programme is expected to take place in the fourth quarter of 2017, one of the sources said.
HSBC declined to comment, while the government of Sharjah did not respond to requests for immediate comment.
