Dubai – Mubasher: Fitch Ratings has assigned Dubai Islamic Bank’s (DIB) planned sukuk issuance an expected senior unsecured rating of 'A(EXP)'.

The sukuk will be issued under DIB Sukuk's trust certificate issuance programme, Fitch said, adding that the total issuance may reach a maximum of $2.5 billion equivalent.

“The final rating is contingent on the receipt of final documents conforming to the information already received,” the ratings agency added,

DIB Sukuk is a legal entity incorporated in the Cayman Islands and set up solely to act as the issuer of the certificates and trustee for the certificate holders.