QIB seeks nod to raise sukuk programme to $3bn

QIB, Qatar’s largest Shariah-compliant lender by assets, has said it is seeking shareholder approval to raise the maximum size of its sukuk programme to $3bn from the existing $1.5bn. The bank is also seeking an extension of approval for the remaining QR3bn ($824mn) portion of a QR5bn riyal Tier 1 capital perpetual sukuk plan originally approved in February last year. PICTURE: Nasar TK