DOHA: Three Qatari banks participated in the $1.34bn (about QR4.88bn) Sukuk auction successfully conducted by the Kuala Lumpur-based International Islamic Liquidity Management Corporation (IILM). The Doha-based banks which participated at the IILM’s Sukuk auction include Qatar National Bank (QNB), Qatar Islamic Bank (QIB) and Barwa Bank.
With three months tenor, the A-1 rated IILM Sukuk by Standard & Poor’s Rating Services, were priced at an average yield of 1.03820 percent. The additional new issuance of $350m in this series brings the total amount of the IILM’s cumulative Sukuk to $2.2bn from $1.85bn.
As at February 2016, the IILM Sukuk that have been issued and reissued amount to $15.38bn.
In total 11 primary dealers, including Qatari banks, participated in the offering. The other eight financial institutions were Abu Dhabi Islamic Bank; Al Baraka Turk; Boubyan Bank; CIMB Islamic Bank Berhad; Kuwait Finance House; Maybank Islamic Berhad; National Bank of Abu Dhabi; and Standard Chartered Bank. The Peninsula
DOHA: Three Qatari banks participated in the $1.34bn (about QR4.88bn) Sukuk auction successfully conducted by the Kuala Lumpur-based International Islamic Liquidity Management Corporation (IILM). The Doha-based banks which participated at the IILM’s Sukuk auction include Qatar National Bank (QNB), Qatar Islamic Bank (QIB) and Barwa Bank.
With three months tenor, the A-1 rated IILM Sukuk by Standard & Poor’s Rating Services, were priced at an average yield of 1.03820 percent. The additional new issuance of $350m in this series brings the total amount of the IILM’s cumulative Sukuk to $2.2bn from $1.85bn.
As at February 2016, the IILM Sukuk that have been issued and reissued amount to $15.38bn.
In total 11 primary dealers, including Qatari banks, participated in the offering. The other eight financial institutions were Abu Dhabi Islamic Bank; Al Baraka Turk; Boubyan Bank; CIMB Islamic Bank Berhad; Kuwait Finance House; Maybank Islamic Berhad; National Bank of Abu Dhabi; and Standard Chartered Bank. The Peninsula
