The government of Sharjah aims to raise approximately AED1bn ($272mn) through an auction of five-year Islamic bonds, or sukuk, according to a banking document seen by Reuters on Wednesday. The outcome of this sukuk issuance could provide insights into investor appetite for Gulf debt and Sharjah’s creditworthiness in particular, often being one of the weaker performers in the confederation. The Central Finance Department of the emirate has set the maximum profit rate for the debt instruments at 6%, according to the document issued by one of the arranging banks. The final yield and issuance size…