QIB UK closes seventh Islamic structured note

  • Share via facebook
  • Tweet this
  • Bookmark and Share

London-based QIB UK, a subsidiary of Qatar Islamic Bank, has closed its seventh Islamic capital-protected note with plans to roll out similar products every year, its head of asset management said.

QIB UK has now raised over US$190m since it launched its "Hemaya" structured note programme in 2010, having raised US$153m through the first six tranches.

"We are looking to launch several tranches every year," Anouar Adham told Reuters by email. "The idea is to offer different vehicles to [investors with] different risk profiles to match their requirements."

The latest tranche is a three-year note linked to Islamic bank stocks from the Qatar and Saudi Arabia stock exchanges.

"As far as I know we are the first and only institution that offered a capital-protected structure note that allows the client to get exposure to Islamic banks," Adham said.

The first three tranches of the programme, which had raised a combined US$62m, have also matured, he added.

In September, QIB UK announced it would also offer a structured note based on a five-year sukuk which Qatar Islamic Bank issued in October.

Related:

Market Performance

Qatar International Islamic Bank
87.5
2.1 2.46 (%)
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!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
The flood gates open

The flood gates open

Turkey’s new fondness for sukuk has been met with increasing...

"Sleeping giant" debt market awakes in Saudi Arabia

After years in which the growth of Saudi Arabia's bond market...

Gulf bond issuers see opportunity in Malaysia

Gulf bond issuers see opportunity in Malaysia

Gulf looks to tap Malaysian investors with ringgit issues; country...

Most Discussed