|02 August, 2016

QIIB completes issuance of QR1bn Sukuk

The Sukuk aims at boosting the Bank's Tier 1 Capital to maintain a higher Capital Adequacy Ratio (CAR) complying with the Basel III norms.

A trader looks at share prices on a monitor at the Doha Stock Exchange in Doha, Qatar .

A trader looks at share prices on a monitor at the Doha Stock Exchange in Doha, Qatar .

REUTERS/Naseem Zeitoon
02 August 2016
DOHA: QIIB has successfully completed the issuance of QR1bn Sukuk, the Bank said in a statement to Qatar Exchange.

The Sukuk aims at boosting the Bank's Tier 1 Capital to maintain a higher Capital Adequacy Ratio (CAR) complying with the Basel III norms.

During last year's Annual General Assembly meeting, QIIB shareholders had approved the Bank's proposal to raise up to QR3bn through Sukuk issuance to support the bank's capital requirements for future growth and expansion. A higher capital adequacy will not only help the Bank's risks absorption capacity but also expected to promote financial stability and efficiency of the Shairah compliant banking services provider.

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