Government of Dubai repays AED7.1bn liabilities

The Government of Dubai, represented by the Department of Finance, today announced repayment of Dirham sukuk worth AED2.5 billion and dollar sukuk worth $1.25 billion, due on 3rd November 2014 and exported on 28th October, 2009.
The Department said it has recovered all sukuks by repaying the amounts required by holders of sukuks with due revenues through the agent.
Abdul Rahman Saleh Al Saleh, Director-General of the department, said the repayment in time reflects the government's commitment to repay all liabilities as per schedule.
He added that the government was keen to pay all the financial liabilities in accordance with the schedule, noting that "it is a huge step, which highlights the clarity of vision of the government about the future. It also reflects great confidence reposed by regional and international business communities on the Emirate of Dubai."