QIIB (International Islamic), which was a co-manager to Qatar’s recent $4bn two-tranche sukuk, said the bond would ensure liquidity at the “least cost” and “positively impact” all sectors of the national economy.
QIIB chief executive officer, Abdulbasit A al-Shaibei said International Islamic was proud to have participated in the sukuk, which received great attention from all over the world in view of “Qatar’s robust economy”.
This was reflected in the sukuk attracting a massive order book of more than $25bn, he said. S&P has given the sukuk AA rating, again confirming that Qatar’s economy is on a strong footing.
“The issuance of the Islamic bond is an indication of sound liquidity management and measures aimed at containing inflation. Sukuks are important instruments in Islamic finance.
“Qatar is fast emerging as the best country in the region to manage Islamic bonds. I hope many more such bonds will be issued when necessary,” al-Shaibei said in a statement yesterday.
Investors have “great trust” in all sectors of the Qatari economy in light of its “potential” and the “strategic projects” that are in the pipeline, both in the energy or non-energy sectors.
“At QIIB, we have been proud to associate with the issuance of Qatari Islamic bonds. We were also the managers for the issuance of the first set of bonds for Government of Qatar in 2003 for $700mn. And today we are happy to participate in the new sukuk issuance,” al-Shaibei said.