Font Size

- Aa +

Tue 9 Feb 2016 08:14 AM

Font Size

- Aa +

Qatar Islamic Bank seeks approval to raise sukuk programme to $3bn

Qatar's largest sharia-compliant lender by assets is also seeking extension of approval for remaining $824 million) portion of a 5 billion riyal Tier 1 capital perpetual sukuk programme

Qatar Islamic Bank seeks approval to raise sukuk programme to $3bn
Qatar Islamic Bank (QIB)

Qatar Islamic Bank (QIB), the Gulf state's largest sharia-compliant lender by assets, said on Monday it was seeking shareholder approval to raise the maximum size of its sukuk programme to $3 billion from the existing $1.5 billion.

The bank was also seeking an extension of approval for the remaining 3 billion riyal ($824 million) portion of a 5 billion riyal Tier 1 capital perpetual sukuk programme originally approved in February last year.

For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.