Abu Dhabi Islamic Bank seeks to expand Tier 1 sukuk programme

Dubai: Abu Dhabi Islamic Bank will ask shareholders for permission to expand its existing Tier 1 sukuk programme to $3 billion (Dh11 billion) from $2 billion, it said in a bourse filing on Thursday.

The increase is subject to regulatory approval, the Abu Dhabi lender said.

It will also ask shareholders to vote to increase the bank’s capital by Dh504 million ($137.2 million) through a rights issue.