Sheikh Dr Khalid container Thani container Abdullah Al Thani, Chairman of the Board of Directors of QIIB
Doha: Qatar International Islamic Bank (QIIB) efficiently provided its $300m Tier 1 funding sukuk on London Stock Exchange (LSE) throughout a bell-ringing event participated in byDr Abdulbasit Ahmad Al Shaibei, CHIEF EXECUTIVE OFFICER, QIIB and Abdulla Al Ghanim, Commercial Attach é of The State of Qatar in the UK to name a few very important people.
QIIB CHIEF EXECUTIVE OFFICER,Dr Abdulbasit Ahmad Al Shaibei with various other very important people throughout the event.
The event was additionally participated in by prominent authorities from the LSE, together with Sheikh Mohammed container Ali Al Thani, principal of the Treasury and Investment Sector; Hossam Khattab, principal of the Financial Sector; and Mahmoud Al Ahmad, Head of Treasury and Investment at QIIB.
Last Tuesday, QIIB efficiently released a$ 300m sukuk as component of its initial tranche of funding, created to enhance the financial institution’s funding base while confiscating possibilities in the worldwide sukuk market.
The issuance amassed considerable need, with membership demands exceeding $2.5 bn– greater than 8 times the offering– bring in a wide variety of international capitalists. Competitively valued at 187 basis factors over the United States Treasury standard for a 5.5-year term, the sukuk attained a last yearly return of 5.45% noting among one of the most tightest rates for comparable issuances, regionally and internationally.
Sheikh Dr Khalid container Thani container Abdullah Al Thani, Chairman of the Board of Directors of QIIB said, “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 additionally highlighted, “With each sukuk issuance, we witness raising self-confidence in QIIB on the international phase, as shown by the significant need for our offerings. We have actually efficiently constructed solid connections with capitalists around the world and stay fully commited to attaining the very best feasible efficiency 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 comments,Dr Abdulbasit Ahmad Al Shaibei, CHIEF EXECUTIVE OFFICER, QIIB, kept in mind, “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 stressed, “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 solid need for QIIB’s sukuk, Dr Al Shaibei specified, “The frustrating passion in our $300m issuance, with memberships surpassing 8 times the offering, declares our tactical instructions and strengthens our self-confidence in going after more development.
“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 financial institutions and consultants that played a critical duty in the effective issuance, consisting of Standard Chartered Bank as single international planner, together 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.
