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-Sharjah Islamic Bank completes sukuk offering to raise AED266m

Jan 02, 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...