The information we have around heart attacks is not the gap. It is action
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
The information we have around heart attacks is not the gap. It is action
El Nino often has devastating consequences in East Africa, a region already hit by repeated climate shocks
Recent reports suggest that Microsoft may have shuttered one of Bethesda's studios as part of the layoffs announced earlier this year
Jacopo Stecchini and Diletta Ricciardi Durand de la Penne showcase Emirati culture through a series of ventures in collaboration with the Dubai Culture and Arts Authority
South Korea's Jeju Island was once used to exile convicts and prisoners
'Modern Warfare 3' unveils its latest event, Vortex: Vi.Rus Mainframe, featuring a striking animated camo as its coveted reward
'Fortnite' insiders suggest that a significant feature inspired by 'Fall Guys' is on the horizon as part of a previously rumoured crossover event.
63-year-old Filipina patient endured varying degrees of discomfort and pain for years before coming to doctors on March 23