Emirates picks banks to arrange Islamic bond with UKEF backing

(Emirates 24/7 Business and Reuters, Dubai, 12 March 2015) Emirates  airline has hired eight banks to arrange an Islamic bond that will be guaranteed by Britain's export credit agency, a document from lead arrangers showed on Thursday. The deal assumes significance as this is the first time the export credit agency has guaranteed a sukuk, as Islamic bonds are known. London is seeking to boost its position as a centre for Islamic finance.