Doha: Qatar Islamic Bank (QIB) has taken a significant step in its financial strategy by mandating a consortium of major banks to facilitate the issuance of a USD-denominated Sukuk. The selected banks, including Abu Dhabi Islamic Bank, Bank ABC, Dubai Islamic Bank, Dukhan Bank, Emirates NBD Capital, HSBC, KFH Capital, Mashreq, QNB Capital, QInvest, SMBC, Standard Chartered Bank, and The Islamic Corporation for the Development of the Private Sector, will serve as Joint Lead Managers and Joint Bookrunners for this issuance. This issuance will be a Regulation S only 5-year benchmark size fixed rate, senior unsecured Sukuk offering and will be issued by QIB Sukuk Ltd.

According to Qatar News Agency, the Sukuk offering is part of the Issuer's $5 billion Trust Certificate Issuance Programme. The issuance is subject to favorable market conditions, and the Financial Conduct Authority (FCA) along with the International Capital Market Association (ICMA) stabilization will apply. This strategic move aligns with QIB's efforts to diversify its funding sources and strengthen its presence in the international capital markets.