Qatar Islamic Bank's board approves $1.5bn sukuk

Qatar Islamic Bank was a winner at the 2011 Arabian Business Qatar Awards.

Qatar Islamic Bank was a winner at the 2011 Arabian Business Qatar Awards.

Qatar Islamic Bank's (QIB) board has approved its $1.5bn sukuk issuance programme, a company statement said on Sunday.

The bank has hired HSBC Holdings Plc, Standard Chartered Plc, Deutsche Bank AG and QInvest LLC to manage the issuance, a company spokesman said.

"Based on the approval, the bank will now pursue all necessary regulatory approvals from the relevant authorities," the statement said.

The lender last tapped global debt markets with a $750 million sukuk in 2010, which carried a profit a profit rate of 3.856 percent, according to Thomson Reuters data.

Related:
Companies

Market Performance

Qatar Islamic Bank
92.8
-1.9 -2.01 (%)
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

All comments are subject to approval before appearing

Further reading

Features & Analysis
Saudi riyal peg pressure eases, but not gone

Saudi riyal peg pressure eases, but not gone

Volatile energy swings mean the currency remains vulnerable,...

The Gulf's sovereign dilemma

The Gulf's sovereign dilemma

With oil prices still faltering around their lowest level in...

Gulf's bond market thaws as panic over oil fades

Gulf's bond market thaws as panic over oil fades

Improved sentiment seen in the response to a $500m, five-year...

Most Discussed
sponsoredTracking