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Qatar Islamic Bank Plans $500-$750 Million Islamic Bond Sale

Published: 16/09/2012 07:24:21 PM GMT
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Qatar Islamic Bank (QIBK) plans to raise $500 million and $750 million with the sale of Islamic bonds after the board approved a $1.5 billion sukuk pr (more)

Qatar Islamic Bank (QIBK) plans to raise $500 million and $750 million with the sale of Islamic bonds after the board approved a $1.5 billion sukuk program today, the lender said at a shareholders' meeting in Doha today.

The Shariah-compliant bank hired HSBC Holdings Plc, Standard Chartered Plc, QInvest LLC and Deutsche Bank AG to manage the issuance, the bank said. The proceeds from the sale will be used for local projects, it said.

To contact the reporter on this story: Robert Tuttle in Doha at rtuttle@bloomberg.net


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