Tamweel repays $300m sukuk

Tamweel today announced that it had repaid in full a $300 million five-year Sukuk, which was issued in early 2008 and matured in January 2013. The proceeds were used for general Islamic financing and corporate purposes. The timely repayment of the Sukuk demonstrates the financial strength of Tamweel and its majority shareholder Dubai Islamic Bank (DIB).