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Al Jazira Bank plans dollar sukuk issuance
Al Jazeera Bank announced its intention to issue additional Tier 1 capital sukuk in US dollars aimed at strengthening the bank's capital and meeting its financial requirements. This will be carried out through a special purpose company to be offered to investors within the Kingdom and internationally. The amount and terms of the issuance will be determined later, depending on market conditions, with approval from the Board of Directors and the appointment of global and regional financial institutions to manage the subscription process. The success of the issuance depends on obtaining regulatory approvals and completing legal procedures.
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