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4.3.5 COUNTRY-SPECIFIC RECOMMENDATIONS
While the UAE has been an attractive jurisdiction for international sukuk issuances and a
favourite domicile of foreign investors, the UAE ICM in general and the sukuk market in
particular still face a number of challenges. 5 In making the recommendations for the UAE, we
have reviewed the issues and challenges faced by its sukuk market, as depicted in Chart 4.29.
Tables 4.11 and 4.12 summarise some proposals to facilitate the depth and breadth of the UAE
sukuk market in terms of supply and demand.
Chart 4.29: Factors Influencing the Development of the UAE’s Sukuk Market
Sources: RAM, ISRA
5 In 2015, Deloitte Corporate Finance - in collaboration with the Dubai Economic Council - published a report, Developing
Dubai’s Debt Market to Promote Investment and Growth , to analyse the factors that stimulate the development of the debt
market in Dubai.