Qatar-QIIB to pump USD700mn Sukuk

04 Apr 2017

(MENAFN) Shareholders of QIIB gave their approval to all items on the agenda of the Annual General Assembly Meeting, involving extension of their approval to issue USD700mn Sukuk.

The main goals of the agenda is seeking extension of its approval for the issuance of Sukuk and extension of approval to issue Additional Tier 1 Sukuk nonconvertible into shares up to QR3bn.

Accordingly, the bank is focusing on shopping centers and predicting to have the whole number of its branches grown to 24 by the end of the recent year.

The bank is still active in financing small businesses outside Qatar, but it would be too early to think about increasing its banking ops in other places.



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