Dubai Aviation Corporation, flydubai for economic travel, is said to have selected banks including HSBC and Standard Chartered to hold meetings in Asia, the Middle East and Europe starting November 13 for its Sukuk issuance, Al Bayan reported.

flydubai has also selected Credit Agricole CBA, Dubai Islamic Bank (DIB) and Emirates NBD Capital, news agency Bloomberg cited informed sources, who spoke on condition of anonymity, as saying.

flydubai chief financial officer Mukesh Sodani had stated at an earlier time that the airline is examining means of raising funds through a Sukuk or bond issuance.

Sukuk seemed to be the best option, he added, noting that the aim of the issuance is to diversify the Company’s financing sources.