DUBAI  - Abu Dhabi Islamic Bank said on Saturday it has raised S$750 million of additional Tier 1 through a perpetual sukuk that complies with the Basel III regulatory framework issued by the Central Bank of the United Arab Emirates.

ADIB, the largest sharia-compliant lender in Abu Dhabi, started marketing the notes on Wednesday.

The Additional Tier 1 perpetual bonds are similar to an equity instrument in the fact that they have no maturity.

 

(Reporting by Maher Chmaytelli, Editing by William Maclean) ((mailto:maher.chmaytelli@thomsonreuters.com; +9647901917030;))