Qatar Islamic Bank ‘Al Masraf’ Announces Successful Issuance of 5-Year Term Sukuk Worth USD 650 Million
21 January 2020
Part of its program to issue Sukuk worth USD 4.0 billion, Qatar Islamic Bank (QIB) has announced the successful issuance of Formosa Sukuk at a value of USD 650 million for five years term. The Bank has listed this issue in Taipei Exchange, Taiwan and in the Irish Exchange. This issue come in line with the Bank’s strategy to diversify financing resources to cover new international markets.
This issue is considered the first of Reg S Sukuk type listed in in Taipei Exchange. It has strongly attracted the investors’ concern globally and especially in Asia. The issue was managed by Standard Chartered Bank ‘Taiwan’.
This success by QIB emphasizes the international investors’ confidence in the Qatari economy and the Bank’s healthy strategy and strong financial position.