IslamicFinance.de

Emirates Islamic Bank has mandated banks including HSBC for the sale of Islamic bonds. The sale of the dollar-denominated, benchmark-sized securities may begin this week and the sale is arranged by Standard Chartered, Emirates NBD, Dubai Islamic Bank, Noor Bank and Bank ABC. Emirates Islamic Bank last sold bonds in July 2012, when it raised $500 mn from securities with maturity of between five and six years.

Dubai Emirates Islamic Bank (EIB) reported a full-year net loss due to significantly higher impairments on financing and investment activities and a rush in expenses.
The bank's total assets fell more than 32 per cent to Dh21.48 billion from Dh32.74 billion in 2010. The bank's full year fin-ancial performance was affected by a 15 per cent increase in expenses.