Business
Dukhan Bank shareholders approve mid-term sukuk issue limit to $3bn
Dukhan Bank shareholders Sunday approved the board’s proposal to increase the aggregate maximum limit of its mid-term sukuk issuance from $2bn to $3bn.
The plan features flexibility to issue sukuk through a special purpose vehicle established either within or outside Qatar, as determined by the board, and comes as a series of strategic financing and capital optimisation measures aimed at enhancing its funding flexibility and supporting long-term growth objectives.
A decision in this regard was taken at the extraordinary general assembly meeting held Sunday.
The assembly also authorised the board to make necessary amendments to the programme, including the replacement or re-domiciliation of the current issuer, BBG Sukuk (Cayman Islands), to another suitable jurisdiction, including the Qatar Financial Centre, if required.
The assembly also approved the issuance of capital instruments eligible for inclusion in Additional Tier 1 capital of up to QR4bn, provided that such instruments are not convertible into ordinary shares of the bank.
In this regard, the board of directors was authorised to determine the size, structure, terms and conditions, issuance currency, and listing venue of such instruments, as well as to take all necessary actions related to their issuance and listing, in accordance with the Qatar Central Bank regulations and other relevant supervisory authorities.
The general assembly approved the board’s proposal to distribute an additional cash dividend of 8% of the nominal value per share, equivalent to QR0.08 per share, for the second half of the fiscal year ending December 31, 2025. This brings the total cash dividends for the fiscal year 2025 to 16% of the nominal value per share, equivalent to QR0.16 per share.
Sheikh Abdulla bin Fahad bin Jassim al-Thani, chairman of Dukhan Bank, said the performance reflects the strength of its business model, the continued trust of its customers and shareholders, and its ability to navigate a dynamic operating environment while maintaining a clear focus on long-term value creation.
Throughout the year, the bank accelerated its investments in digital capabilities to further enhance customer experience, with advancements across technology, payments, and card-related services enabling more seamless, accessible, and convenient Shariah-compliant banking solutions aligned with evolving customer needs.
"Looking ahead, Dukhan Bank will continue to build on these solid foundations, with a focus on innovation, service excellence, and prudent growth, while prioritizing the creation of sustainable value for all stakeholders and contributing to Qatar’s broader economic and social development,” he affirmed.