Local banks are turning to the capital markets to finance expansion as they set their sights on growth both in the domestic market and overseas. On November 9, Qatar National Bank (QNB), the country’s largest bank by assets, announced that it had successfully completed a $1bn bond issue on the international markets, through its Euro Medium Term Note (EMTN) programme.
While QNB has turned to conventional debt markets to bolster its capital, counterparts have turned to the sharia-compliant (Islamic) instruments – particularly, of course, Islamic institutions. In October, Qatar Islamic Bank (QIB), the country’s largest sharia-compliant bank, issued a $750m five-year sukuk (Islamic bond) aiming to leverage high levels of liquidity and demand for issues in the region………………………………………..Full Article: Source