QIIB Shareholders Approve BOD Recommendation to Issue up to USD 1 Billion Tier-2 Sukuk

Qatar International Islamic Bank’s (QIIB’s) shareholders have approved a Board of Directors (BOD) recommendation to issue up to USD 1 billion Tier-2 Sukuk once the required approvals from the authorities concerned have been obtained. The virtual ordinary general assembly endorsed the BOD recommendation to extend last year's general assembly approval of the USD 2 billion Tier-1 Sukuk (which was approved at the 2019 Annual General Meeting) and delegated to the BOD the decision-making with regard to the size of each issuance, terms and conditions, and issuance currency. QIIB has said that the conditions and size of the Sukuk will be subject to a study of the bank’s needs and market conditions.

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Chairman and Managing Direc...