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Saudi overtakes UAE to become largest sukuk issuer in Gulf

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Saudi Arabia overtook UAE to become the largest issuer of sukuk in the first quarter of 2012 in the GCC, Zawya said in a bulletin.

The UAE, which was the fourth largest issuer of Islamic bonds in the first quarter of 2012, raised approximately $1.9 billion (Dh7 billion) through sukuk compared to $6.4bn by Saudi Arabia.