| First Gulf Bank has mandated Citi, HSBC, National Bank of Abu Dhabi and Standard Chartered banks as joint lead managers for its five-year $500 million (Dh1.83 billion) sukuk issue.
"Proceeds from the sukuk are to be used for Islamic general corporate purposes and to fund the growth of the FGB's Islamic loan book," FGB said in a statement. "Subscription is set to begin on January 11," it added. Shabbir Malek, banking analyst at EFG-Hermes told Gulf News: "This shows that FGB is aiming to diversify its funding base and securing long-term US dollar funding to grow its loan book."..........................................Full Article: Source
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