Bank Aljazira intends to offer domestic the SAR-denominated Tier 1 Sukuk issuance programme at a value of up to SAR 5 billion by way of a private placement.

The lender has assigned AlJazira Capital as the sole arranger to handle the proposed Sukuk programme and the potential offer, according to a bourse filing.

Meanwhile, the total value of the issuance will not exceed SAR 5 billion.

The Saudi lender highlighted that the number and value of the Sukuk offering will be determined at a later time in accordance with the market conditions.