QIIB issues $2bn sukuk in London Stock Exchange

QIIB issues $2bn sukuk in London Stock Exchange
The Programme has been approved by the UK Financial Conduct Authority (FCA)
International Islamic QIIK -1.68% 49.16 -0.84

Mubasher: Qatar International Islamic Bank (QIIB) on Wednesday announced that it established a $2 billion trust certificate issuance programme.

The Programme has been approved by the UK Financial Conduct Authority (FCA) and is expected to be admitted to the official list of the FCA and the London Stock Exchange within the following days, according to a bourse statement.

Moody’s Investors Service Cyprus assigned the Sukuk Programme a provisional rating of (A2), the bank added, noting that it is expecting a rating of (A) by Fitch Ratings.

QIIB was established in 1990 as the second Islamic bank in Qatar and is currently the third largest bank in terms of assets and market capitalization. 

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Source: Mubasher

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