Qatar Islamic Bank Plans as Much as $750 Million Sukuk
17 Sep 2012 07:24 GMT
 
(Corrects to say shareholders in third paragraph of story originally published Sept. 16.) (more)

(Corrects to say shareholders in third paragraph of story originally published Sept. 16.)

Qatar Islamic Bank (QIBK), the country's biggest Shariah-compliant lender by assets, plans to raise as much as $750 million by issuing Islamic bonds, its first sale since 2010.

The Shariah-compliant bank hired HSBC Holdings Plc (HSBA), Standard Chartered Plc, QInvest LLC and Deutsche Bank AG to manage the issuance of at least $500 million of debt, the lender said at a shareholders' meeting in Doha today. The securities, which are known as sukuk and comply with Islam's ban on interest, may have maturities of as much as seven years, Ahmad Meshari, the bank's acting chief executive officer said today.


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