Three separate Israeli strikes on Wednesday, including on a health centre in the border village of Habariyeh, killed 11 civilians
Mohamed Abdulla, CEO of SIB, thanked the investors of the sukuk for their trust in SIB as a strong regional credit, holding investment grade ratings of A3 by Moody's and BBB+ by S&P and Fitch Ratings.
He said: "SIB believes the capital markets to be an opportunity of growth for Islamic banks. We, at SIB, would look to tap the markets at appropriate times. Sukuk allows us to diversify our funding sources and engage with investors for various opportunities."
Ahmed Saad, deputy CEO of SIB, said: "The bank's liquidity remains strong whereas asset quality measured through coverage ratio and non-performing loans are in line with peers. SIB chose to repay the sukuk through its internal sources, evidencing our excellent liquidity position, and would look to engage with capital market investors, under the $3 billion sukuk programme in the future. SIB has been tapping sukuk markets since 2006, being one of the earliest sukuk issuers in the world."
SIB currently has two sukuks of $500 million outstanding which are set to mature in 2018 and 2020 respectively.
The Sharjah Islamic Bank was established in 1975 and is a public listed company on Abu Dhabi Securities Exchange. The bank is regulated by the Central Bank of the UAE.
Headquartered out of Sharjah, and operating with 31 branches throughout the UAE, the bank offers its clients commercial banking services, including deposits, loans and credit cards; asset management services; and investment banking services.
- business@khaleejtimes.com
Three separate Israeli strikes on Wednesday, including on a health centre in the border village of Habariyeh, killed 11 civilians
Netanyahu tries to soothe a rift with Biden as he plans to send a government delegation to Washington after earlier cancelling the trip
Among the 24 horses Japan has sent to Dubai is impressive Riyadh Dirt Sprint winner Remake who eyes a Middle East double
Liberty Island looks the horse to beat in the $6m Sheema Classic while Lord North chases history in the $5m Dubai Turf
MBRGI expanded its social and aid programmes to cover 105 countries - five more than in 2022
The Jebel Ali Stables handler leads the Zabeel Stables boss by two wins with three race meetings remaining for the 2023-2024 season
Exciting UAE trio among twelve elite dirt specialist who will vie for glory in the $12 million contest
The attack was planned by the group, who armed themselves with weapons and used a level of violence that can only suggest they intended to kill him