Bloomberg/Christopher Pike

Sukuk

Sharjah Islamic Bank hires banks for US-dollar denominated Sukuk issuance

  • share this article

Earlier this year the bank’s board approved the issuance of Shari’ah-compliant Tier 1 instruments for up to AED 2.8 billion ($762 million), to strengthen its capital adequacy ratios.

Tuesday 18, June 2019 BY KUDAKWASHE MUZORIWA

The UAE’ Sharjah Islamic Bank (SIB) has appointed banks to arrange investor meetings ahead of an issuance of US dollar-denominated Sukuk.

The bank has hired Citi, HSBC and Standard Chartered to coordinate the deal and they are bookrunners along with Abu Dhabi Islamic Bank, Bank ABC as well as Deutsche Bank, Dubai Islamic Bank and Emirates NBD Capital.

Additionally, the lender also appointed First Abu Dhabi Bank and KFH Capital as bookrunners.

The planned deal will boost the bank's Tier 1 core capital, reported Reuters.

TAGS : Sukuk, Sharjah Islamic Bank , Citi, HSBC, Standard Chartered, Abu Dhabi Islamic Bank, Bank ABC, Deutsche Bank, Dubai Islamic Bank, Emirates NBD Capital

print this article