QIB Issues Additional Tier Perpetual Sukuk

Doha, September 01 (QNA) -Qatar Islamic Bank announced today that it has raised QAR 2 Billion in Basel III compliant Additional Tier 1 Perpetual Sukuk to enhance the Banks capital adequacy ratios and to support future business growth. The transaction was completed on 1st September 2016, QIB said in a statement posted on QE website. Qatar Islamic Bank (QIB) was in 1982, becoming the country's first Islamic financial institution and Sharia-compliant bank. Its products and operations are supervised by a Sharia board, which ensures the Bank adheres to Islamic finance principles. Capital amounted to 2.36 billion at the end of 2015. Total assets reach QR 127 billion.(QNA)