QIB's General Assembly Approves $1.5 Billion Sukuk Issuance Programme

Doha, September 17 (QNA) - Qatar Islamic Bank (QIB) announced that its General Assembly has approved the Board of Directors' recommendation to establish a medium-term $1.5 Billion Sukuk Programme. The announcement was made following the General Assembly meeting on Sunday 16th of September 2012, the bank said in a statement. Based on the approval, the Bank will now pursue all necessary regulatory approvals from the relevant authorities. Qatar Islamic Bank (QIB) was established on 8 July 1982 as a Qatari shareholding company by the Emiri Decree No.45 of 1982 in order to provide banking services in accordance with the provisions of Islamic Shari'a and as per the regulations of Qatar Central Bank (QCB). The Bank carries out banking services, investment and financing activities through various Islamic modes of financing, such as Sukuk/Securitization. (QNA)