The new Public Debt Law enabling the UAE to issue sovereign bonds will help to deepen the capital markets in the second-biggest Arabian Gulf economy, enabling the country to tap a wider pool of financing options and creating a government yield curve to bolster secondary debt market in the UAE.
The debt law represents a further fillip to the UAEs plans to deepen the breadth of the financial and debt capital markets, said Ehsan Khoman, the head of Middle East and North Africa research and strategy at the Japanese MUFG Bank. The bonds [issued under the new law] will act as a central mechanism in the creation of a government yield curve in the secondary debt market.
The UAE on Saturday issue…
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