Qatar International Islamic Bank plans Tier 1 Sukuk issue

30/03/2016 10:50 AST

In a statement to Qatar Stock Exchange on 30 March it was revealed that Qatar International Islamic Bank (QIIB) is planning a Sukuk issue of up to QAR 3 billion. The bank’s General Assembly gave the nod to the extension of its approval to issue Additional Tier 1 Sukuk nonconvertible into ordinary shares of up to QAR 3 billion.

The meeting delegated the bank’s board of directors' to decide the size of each issuance ,terms and conditions and issuance currency.

Doha-based Gulf Times quoted QIIB CEO Abdulbasit A al-Shaibei as saying the Sukuk would be issued before the end of April to boost the bank’s capital ratio.


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