Powered by

-Sharjah Islamic Bank completes sukuk offering to raise AED266m

Jan 2, 2018 - Global Banking News

Global Banking News - 02 January 2018

Sharjah Islamic Bank (SIB) has completed the issuance of AED266.8m worth of sukuk convertible into the bank's equity, to the Sharjah Social Security Fund (SSSF), Khaleej Times has reported online.

Abdul Rahman Al Owais, chairman of the board of directors of SIB, said that the Ruler of Sharjah had considered SIB as a safe investment for the SSSF. The SSSF is to utilise the income generated from the bank's dividends for developing social activities

Sign up for unrestricted access to 200+ subscription services.
Already have an account? Click here to login.

RelSci News & Alerts gets you:

  • 5 free articles a month from top subscription outlets like the Financial Times, New York Times, and Washington Post
  • Competitive business intelligence through daily data updates
  • Custom feeds on target high-value individuals, companies, industries, and topics delivered straight to your inbox