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| 14 October, 2017

Qatar QIIB chief to meet global experts on $2bln sukuk

Image used for illustrative purpose.
A money changer counts U.S. dollar bills at a currency exchange office in central Istanbul April 15, 2015.

Image used for illustrative purpose. A money changer counts U.S. dollar bills at a currency exchange office in central Istanbul April 15, 2015.

REUTERS/Murad Sezer

QIIB’s $2bln sukuk has received approval from the UK Financial Conduct Authority (FCA) to list the instrument on the London Stock Exchange.

Qatar - QIIB is scheduled to meet global financial and banking institutions as part of efforts to attract more investors to its $2bn sukuk.

QIIB chairman and managing director Dr Sheikh Khalid bin Thani bin Abdullah al-Thani is slated to meet with officials and financial experts across the world as the bank embarks on a roadshow. He has already held a stream of meetings at the sidelines of the IMF World Bank meeting in New York.

The QIIB delegation will also hold bilateral discussions in which it will highlight the strength and robustness of the Qatari banking sector, its enriching opportunities and ability to achieve further growth in view of its strengths, especially in terms of the high solvency and huge reserves of Qatar.

QIIB’s $2bn sukuk has received approval from the UK Financial Conduct Authority (FCA) to list the instrument on the London Stock Exchange. The bank’s Trust Certificate issuance programme has been assigned a provisional rating of ‘A2’ by Moody’s and expected rating of ‘A’ by Fitch.

QIIB was established in 1990 as the second Islamic bank in Qatar and is currently the third largest listed Shariah-principled lender in terms of assets and market capitalisation. QIIB started its operations in 1991 and is listed on the Qatar Stock Exchange. The bank also has regional and international partnerships.

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