Gulf Times – Sharjah Islamic Bank to issue $300mn sukuk by mid-May

Sharjah Islamic Bank (SIB) plans to issue a 5-year Islamic bond, or sukuk, worth $300mn by mid-May, an executive at the bank said.

“The road shows will take place in the first half of May,” and money will be used for “expansion purposes,” SIB deputy chief executive officer Ahmed Saad in an emailed reply to Zawya Dow Jones questions.

SIB already has a sukuk worth 826mn UAE dirhams ($225mn) that falls due in October.

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