A group of international and regional banks met Dubai World for the first time on Monday as talks began on the company's efforts to restructure $26 billion of debt, the Financial Times reported on Monday.

Citing people familiar with the process, the newspaper reported that it was a kick-off meeting for what was expected to be a long process, and that it included key creditors expected to form a steering committee.

The newspaper reported that a key test of the restructuring process will be an Islamic bond, or sukuk, issued by Nakheel, the real estate arm of Dubai World, which is due to be redeemed at $4.05 billion on December 14.

The report cited a person close to the talks as saying there was a range of views among lenders. Some lenders think if there is a standstill, everyone should standstill. At the other end, some believe the sukuk has to be repaid at all costs.

London-listed Standard Chartered , HSBC , Lloyds and Roy Bank of Scotland were due to attend the meeting, along with United Arab Emirates lenders Abu Dhabi Commercial Bank and Emirates NBD .

The United Arab Emirates central bank has told local lenders to report their exposure to Dubai World and related entities, bankers said on Monday.

(Writing by Simon Falush)

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