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Al-Arabi to issue dollar Tier 1 sukuk
Al Ahli National Bank announced its intention to issue additional Tier 1 capital sukuk denominated in dollars as part of its new international program, aiming to improve capital adequacy in accordance with Basel Committee requirements and local regulatory standards. The proceeds will be used for general banking purposes. The amount, yield conditions, and tenors will be determined later based on market conditions and investor demand. The issuance will be executed through a special purpose vehicle to ensure proper legal and financial structuring. The offering is targeted at qualified institutional investors both domestically and internationally, reflecting the bank’s long-term strategy to diversify funding sources and access global capital markets. Regulatory approval processes include the appointment of renowned international banks as underwriters and registrar managers.
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