DOHA: Qatar Islamic Bank (QIB) has announced successful execution of Formosa Sukuk issuance under its $4 billion Trust Certificate Issuance Programme, dual listed on the Taipei and Irish Stock Exchanges.
Under this programme, a US$ 650 million tranche was issued with a maturity of 5 years. The issuance was part of QIB’s strategy to diversify funding from new markets.
This is the first ever Reg S Sukuk issue to be listed on the Taipei stock exchange and attracted strong interest from investors globally especially Asia, and was arranged by Standard Chartered Bank (Taiwan) Limited. This success confirms the trust of international investors in Qatar’s economy, QIB’s strategy and the strength of its financial position.