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Islamic bank Al Baraka eyes $300 mln Tier 1 sukuk issue in Q1 2017 -CEO
"You'll see issuance of sukuk in the first quarter of 2017 around $300 million, and we are talking to some banks" about arranging it, Adnan Ahmed Yousef told reporters on the sidelines of an Islamic banking conference.
Yousef added that the issue would enhance the bank's core Tier 1 capital.
Al Baraka had a total capital adequacy ratio - a key indicator of a bank's financial health, which combines both Tier 1 and supplementary Tier 2 capital - of 15.15 percent as of June 30, according to a regulatory disclosure on its website.
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