Al-Rajhi to issue dollar sukuk for growth
Al Rajhi Bank intends to issue Social Sukuk (Islamic bonds) from the second issuance tranche denominated in U.S. dollars, with the aim of supporting financing needs and achieving its financial and strategic goals within the framework of sustainable finance. The issuance is expected to be executed through a special purpose vehicle (SPV), and the securities will be offered to qualified investors both within Saudi Arabia and internationally. The issuance amount and terms will be determined based on market conditions and regulatory approval. This offering is part of the bank's plan to diversify its funding instruments and benefit from international debt markets. It aims to strengthen sustainable and social finance strategies, amid continued growth in profits that exceeded expectations, recording SAR 7 billion in Q2, representing a 14% increase year-on-year.
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