Emirates Islamic Bank EIB.DU has hired banks to arrange the issuance of U.S. dollar-denominated five-year sukuk, or Islamic bonds, a document showed on Tuesday.
It hired Emirates NBD Capital ENBD.DU, HSBC HSBA.L, The Islamic Corporation for the Development of the Private Sector, and Standard Chartered STAN.L to arrange investor calls that started on Monday ahead of a benchmark issuance, subject to market conditions, according to the document from one of the banks arranging the deal.
Emirates Islamic (formerly known as Emirates Islamic Bank) is one of the four Islamic banks in Dubai, United Arab Emirates. The bank was established in 2004 to deliver banking services in line with Shari’a principles. It offers products designed for individuals and small businesses as well as large corporations.