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Dubai may launch mortgage bond market
United Arab Emirates: Sunday, March 20 – 2011 at 11:20
The Dubai International Financial Centre (DIFC) is mulling a plan to kick-start mortgage lending in the emirate through the sale of bonds, The National has reported. The plan involves setting up a large and liquid mortgage bond market to reinvigorate the country’s property sector, while avoiding the problems related to mortgage-backed securities in the US sub-prime sector. The plan is based on the mortgage bond market in Denmark, which has been praised as being more stable than most other markets.