Abu Dhabi Commercial Bank has picked four banks for a potential Islamic bond, or sukuk, which could be launched this week, making it the second lender from the emirate currently eyeing a chunk of Islamic liquidity amid dicey global markets.
ADCB has picked itself as well as Bank of America, J.P. Morgan Chase and Standard Chartered as joint lead arrangers and bookrunners for a debut dollar-denominated sukuk, a document from arranging banks showed on Monday.
The sukuk is "expected to be launched during the week of 14th November subject to market conditions," the document said.
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