Arab Today, arab today bank albilad plans sr2bn sukuk
Last Updated : GMT 23:12:04
Arab Today, arab today
Arab Today, arab today

Bank Albilad plans SR2bn sukuk

Arab Today, arab today

Arab Today, arab today Bank Albilad plans SR2bn sukuk

Saudi Arabia's Bank Albilad
Jeddah - Arab Today

Saudi Arabia's Bank Albilad has received regulatory approval to issue a capital-boosting sukuk worth as much as SR2 billion ($533.3 million), it said in a bourse statement.
The issue will enhance its Tier 2, or supplementary, capital and last for 10 years, although the bank has the option to redeem the sukuk after the fifth year, according to the filing.
Sources told Reuters last month that Bank Albilad, one of the smaller lenders in Saudi Arabia, had chosen HSBC's local unit to arrange the Islamic bond offering.

Source ; Arab News

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