The emirate is conducting an investor roadshow during the first week of July that will visit Singapore, Kuala Lumpur, Hong Kong and London. The sukuk is expected to be worth $500m.

In February 2008 the emirate priced its debut sukuk at 115 basis points over the London interbank offered rate (Libor). The deal raised AED1bn ($277m) for the emirate.

Ras al-Khaimah Investment Authority, the emirates’ state-owned investment company, has also issued several bonds and sukuk in the past.