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FINANCIAL NEWS
Qatar CB to issue USD1.1b worth of bonds, sukuk
08 Mar 2013
(MENAFN) Qatar’s central bank will issue USD1.1 billion worth of bonds and Shariah-compliant notes (Sukuk), reported Arabian Business citing local Qatar News Agency.
The 3-year and 5-year currency issues will take place quarterly, said QNA, noting that local banks will be offered USD823 million worth of bonds and USD274 million worth of Sukuk.
In January 2011, the country’s central bank issued a USD14 billion, 3-year bond directly to local banks, in order to sap excess money from the banking system.
It is worth noting that the aim of an issuance would be to set up a domestic sovereign yield curve, according to a January statement made by the International Monetary Fund’s (IMF) mission chief for Qatar.
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