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Qatar, UAE banks ‘to give impetus’ to 2013 debt issue

Posted on 06 March 2013

Banks in Qatar, along with those in the UAE, will provide the impetus for debt issue this year in view of high macroeconomic and credit growth as well as low interest rates, according to global credit rating agency Standard and Poor’s (S&P). “We expect most of the impetus to come from banks in the UAE, the largest issuers in 2012, and Qatar, where issuance has been steadily increasing,” S&P said in its latest report.
Finding that banks in Qatar raised $4.5bn in bonds and sukuk last year, of which QNB issued $2bn, followed by Qatar Islamic Bank ($750mn) and International Islamic ($700mn), Commercialbank and Doha Bank $500mn each in five-year notes; it said the country continues to display very strong domestic growth that is fostering the increase in issuances………………………………………..Full Article: Source

 
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