DUBAI Aug 29 Qatar Islamic Bank (QIB)
is planning a sukuk issuance programme of up to $1.5 billion, a
company statement said on Wednesday. The bank will seek
shareholder approval of the plan in a meeting on Sept. 16.
"A consent from the quorum at the General Assembly will
allow QIB to further process necessary approvals from the
relevant authorities in Qatar with regards to potential Sukuk
issuances under the Programme in the future," the emailed
The lender last tapped global debt markets with a $750
million sukuk in 2010, which carried a profit rate of 3.856
percent; the sukuk was yielding about 2.35
percent on Wednesday, according to Thomson Reuters data.
(Reporting by Rachna Uppal; Editing by Andrew Torchia)