QIB eyes $300m in Islamic bonds

Dubai: Qatar Islamic Bank (QIB), the country's second-largest lender by market value, is considering selling Islamic bonds worth $300 million to refinance existing debt, two bankers said yesterday.

The bank has mandated ABN Amro and Standard Chartered Bank to arrange the Islamic bonds, or sukuk, two bankers familiar with the transaction told Reuters, declining to be identified due to privacy regulations.

The bonds would be issued depending on market conditions, although the lender is looking to borrow funds before year-end.