Deutsche Bank Announces Plans to Issue Sukuk in Saudi Arabia by the End of 1Q 2020

A Company Executive of Deutsche Bank has stated plans to unveil a ‘major’ Sukuk issuance in Saudi Arabia via an Islamic bond, by the end of the first quarter of 2020 (1Q 2020). This launch is a part of Deutsche Bank’s wider push into the Saudi Arabian market, the Company Executive announced.

Head of Structuring, Middle East and North Africa, Deutsche Bank, Hussein A. Hassan noted that the Sukuk would be greater than the benchmark size of USD 500 million. Hassan stated that although the beginning half of 2021 has not been encouraging for Sukuk issuance, the proposed Sukuk would be at par or slightly lower than those of 2009.

Hassan added that of Deutsche Bank’s 5 and 10 mandates in the works; many will occur within Saudi Arabia, with the country...