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#UAE's Sharjah Islamic Bank plans convertible #sukuk issue

Tue, 2017-03-14 10:18 — newsdesk

The United Arab Emirates' Sharjah Islamic Bank (SIB) plans to issue convertible sukuk equivalent to 10% of the lender's capital. Funds raised through the debt sale will be used by Islamic endowments selected by the government of the emirate of Sharjah. The bank also authorised a capital increase to 2.67 billion dirhams ($726 million) from 2.43 billion dirhams.

Source: 

https://www.zawya.com/mena/en/business/story/UAEs_Sharjah_Islamic_Bank_p...