Turkish treasury says mandates three banks for sukuk issue

Ankara: Turkish treasury mandated the Dubai Islamic Bank, HSBC, and Standard Chartered to explore opportunities for a possible sukuk issue in international capital markets, it said on Thursday.

A series of investor meetings will be organised in the UAE on March 28, 2017, the Treasury said.

Meanwhile, the country’s monetary authority raised its highest interest rate on Thursday while leaving all of the other rates unchanged, matching the median estimate in a Bloomberg survey. The lira rallied as the move was seen paving for they way for tighter policy — if needed — and serving as insurance against bouts of currency weakness.