QIIB Announces $2 Billion Sukuk Program for Listing on London Stock Exchange

Doha, October 11 (QNA) - Qatar International Islamic Bank (QIIB) has announced the establishment of a US$ 2 billion Sukuk Issuance Program. The Sukuk Program has been assigned a provisional rating of (A2) by credit rating agency (Moody's) and expected rating of (A) by Fitch Ratings. The Programme has been approved by the UK Financial Conduct Authority (the FCA) and is expected to be admitted to the official list of the FCA and the London Stock Exchange within the following days, the Bank said. QIIB was established in 1990 as the second Islamic bank in Qatar and is currently the third largest bank in terms of assets and market capitalization. QIIB started its operations in 1991 and is listed on the Qatar Stock Exchange. The Bank offers integrated banking services to its customers through a network of branches spread throughout the country. The Bank also has regional and international partnerships. (QNA)