Sheikh Dr Khalid container Thani container Abdullah Al Thani, Chairman of the Board of Directors of QIIB
Doha: Qatar International Islamic Bank (QIIB) effectively offered its $300m Tier 1 funding sukuk on London Stock Exchange (LSE) all through a bell-ringing occasion participated in byDr Abdulbasit Ahmad Al Shaibei, CHIEF EXECUTIVE OFFICER, QIIB and Abdulla Al Ghanim, Commercial Attach é of The State of Qatar within the UK to call a couple of crucial folks.
QIIB CHIEF EXECUTIVE OFFICER,Dr Abdulbasit Ahmad Al Shaibei with numerous different crucial folks all through the occasion.
The occasion was moreover participated in by distinguished authorities from the LSE, along with Sheikh Mohammed container Ali Al Thani, principal of the Treasury and Investment Sector; Hossam Khattab, principal of the Financial Sector; and Mahmoud Al Ahmad, Head of Treasury and Investment at QIIB.
Last Tuesday, QIIB effectively launched a$ 300m sukuk as element of its preliminary tranche of funding, created to boost the monetary establishment’s funding base whereas confiscating prospects within the worldwide sukuk market.
The issuance amassed appreciable want, with membership calls for exceeding $2.5 bn– larger than 8 instances the providing– usher in all kinds of worldwide capitalists. Competitively valued at 187 foundation elements over the United States Treasury customary for a 5.5-year time period, the sukuk attained a final yearly return of 5.45% noting amongst one of the crucial tightest charges for comparable issuances, regionally and internationally.
Sheikh Dr Khalid container Thani container Abdullah Al Thani, Chairman of the Board of Directors of QIIB mentioned, “We are pleased to be listed on London Stock Exchange following the successful issuance of our $300m perpetual sukuk. This milestone reflects the prestigious standing of the Qatari economy and the high confidence it enjoys from investors worldwide. This trust enables us to further enhance our activities and fortify our financial position both locally and internationally.”
He proceeded, “Listing QIIB’s sukuk on London Stock Exchange reinforces the bank’s commitment to engaging with global investment markets and deepens the longstanding ties we have cultivated with this prestigious international exchange. London remains a leading global financial hub and an important centre for Islamic finance.”
The Chairman moreover highlighted, “With every sukuk issuance, we witness elevating self-confidence in QIIB on the worldwide section, as proven by the numerous want for our choices. We have really effectively constructed strong connections with capitalists all over the world and keep totally commited to attaining the easiest possible effectivity for QIIB.
“Our achievements are further reflected in our qualitative leaps across various performance indicators, as well as our high credit ratings, which underscore the bank’s operational strength and resilience,” Sheikh Dr Khalid container Thani container Abdullah Al Thani, Chairman of the Board of Directors included.
In his feedback,Dr Abdulbasit Ahmad Al Shaibei, CHIEF EXECUTIVE OFFICER, QIIB, saved in thoughts, “We are proud to celebrate another significant milestone in our journey towards growth and innovation as we list our $300m Tier 1 sukuk on London Stock Exchange. This is particularly notable as it marks the fourth time QIIB has listed a sukuk on this esteemed exchange and the second time in 2024, following the successful issuance of our $500m Sustainability Sukuk in January this year.”
Dr Al Shaibei harassed, “Our Sustainability Sukuk represents a source of immense pride for QIIB, as it was the first of that type issued by a Qatari financial institution, highlighting our commitment to sustainability and ethical financing.”
Acknowledging the strong want for QIIB’s sukuk, Dr Al Shaibei specified, “The irritating ardour in our $300m issuance, with memberships surpassing 8 instances the providing, declares our tactical directions and strengthens our self-confidence in going after extra improvement.
“We are also pleased that the pricing of this issuance ranks among the most competitive for similar offerings both regionally and locally, with a final return of 5.45% per year.”
Finally, Dr Al Shaibei revealed his gratefulness to the companion monetary establishments and consultants that performed a important responsibility within the efficient issuance, consisting of Standard Chartered Bank as single worldwide planner, along with Al Rayan Investment, Citibank, Doha Bank, Dubai Islamic Bank, Dukhan Bank, Emirates NBD Capital, HSBC, Bank Lesha, Mashreq, QNB Capital, and Warba Bank as joint lead supervisors.
