Alarabi plans to issue dollar Tier 1 sukuk

The Arab National Bank announced its intention to issue additional Tier 1 capital sukuk denominated in US dollars, as part of its recently updated international sukuk issuance program. This issuance aims to strengthen Tier 1 capital, thereby improving capital adequacy ratios in line with Basel Committee requirements and local regulatory standards. Additionally, the proceeds will be used for the bank's general banking purposes. The issuance will be executed through a special purpose vehicle to ensure legal and financial structuring, and will be directed to investors both within and outside of Saudi Arabia, in compliance with applicable financial laws and regulations. This follows the completion of technical procedures and the update of the program in August 2026, with the goal of diversifying funding sources and accessing global capital markets. Several banks have been appointed as lead managers and book runners to oversee the offering process, reflecting the bank's strategy to explore international capital markets and meet regulatory and supervisory requirements.

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