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Qatar Islamic plans benchmark Islamic bond

September 23, 2010 8:37 by Reuters

Qatar Islamic Bank (QIB), the Gulf state’s largest Islamic lender, said it has mandated Credit Suisse, HSBC and QInvest, for its first dollar-denominated benchmark Islamic bond issue.

The Islamic bond, or sukuk, is expected to be launched after investor roadshows in the Middle East, Asia and Europe, beginning on September 24, QIB said in a statement late on Wednesday.

A benchmark issue is normally at least $500 million in size.

In June, Qatar Islamic Bank invested 1.25 billion riyals (343.6 million) in a government-issued sukuk.

(Reporting by Shaheen Pasha; Editing by Dinesh Nair)

Tags: Gulf state's largest Islamic lender, irst dollar-denominated benchmark Islamic bond issue, qatar islamic bank, Qatar Islamic Islamic bond