Abu Dhabi - Mubasher: Sharjah Islamic Bank announced plans to issue benchmark US Dollar sukuk, according to a bourse filing.

The bank will begin investor meetings on 29 August in Europe and Asia, according to the statement.

Benchmark usually means at least $500 million in size.

Arab Banking Corporation (ABC), Dubai Islamic Bank, Emirates NBD Capital, HSBC, KFH Capital, Maybank, Noor Bank, QNB Capital and Standard Chartered will arrange the meetings, the bank said, adding that the issue would be subject to market conditions.