• Skip to main content
  • Skip to after header navigation
  • Skip to site footer
The Halal Times

The Halal Times

Global Halal, Islamic Finance News At Your Fingertips

  • Home
  • Regions
    • Latin America
    • North America
    • Europe
    • Africa
    • Central Asia
    • South Asia
    • Australia
  • Marketing
  • Food
  • Fashion
  • Finance
  • Tourism
  • Economy
  • Cosmetics
  • Health
  • Art
  • Halal Shopping

Nakheel Says Paid $59.8m To Trade Creditor Sukuk

Nakheel
2014-12-14 by Hafiz M. Ahmed

NakheelDubai developer Nakheel has confirmed a profit payment of AED220mn ($59.8mn) on its trade creditor sukuk.

The company, which overstretched itself during the Emirate’s 2008 property crisis after building ambitious manmade island projects, said instructions have been sent to Deutsche Bank, the registrar and paying agent for the sukuk.

Nakheel said in a statement that it has told the bank to make the profit payment to all sukuk holders on the due date of 15 December against the sukuk issued amount of AED4.4bn to date.

Since its $16bn restructuring in 2011, Nakheel has paid around AED13bn to contractors and suppliers; paid interest of AED1bn to banks and made profit payments of around AED1bn to sukuk holders. Nakheel in July reported a 54% jump in profit for the first half of this year. The government-owned company made a net profit of AED1.85bn ($504mn) in the six months to 30 June, up from AED1.20bn in the corresponding period of 2013.

Originally published on www.constructionweekonline.com

 

Author

  • Hafiz M. Ahmed

    Hafiz Maqsood Ahmed is the Editor-in-Chief of The Halal Times, with over 30 years of experience in journalism. Specializing in the Islamic economy, his insightful analyses shape discourse in the global Halal economy.

    View all posts

Like this:

Like Loading...

Related

Previous Post:JP MorganJPMorgan Leaps To 2nd Islamic Bond, Sukuk Spot As HSBC Keeps Lead
Next Post:Top Mideast Sukuk Fund Manager Prepares For Less Returns In 2015sukuk-mideast

Reader Interactions

Leave a Reply Cancel reply

You must be logged in to post a comment.

Sidebar

  • LinkedIn
  • X
  • Facebook
  • Instagram

The Halal Times

The Halal Times, led by CEO and Editor-in-Chief Hafiz Maqsood Ahmed, is a prominent digital-only media platform publishing news & views about the global Halal, Islamic finance, and other sub-sectors of the global Islamic economy.

  • Facebook
  • Twitter
  • Instagram
  • LinkedIn
  • YouTube

News

  • Home
  • Halal Shopping
  • Food
  • Finance
  • Fashion
  • Tourism
  • Cosmetics
  • Healthcare
  • Marketing
  • Art
  • Events
  • Video

Advertise

  • Advertise With Us
  • Zakat Calculator
  • Submit News
  • Subscribe

About

  • About
  • Write For Us
  • Contact Us

Copyright © 2025 · The Halal Times · All Rights Reserved ·

%d