QIB Issues Sukuk Worth $750 Million Successfully

Qatar Islamic Bank (QIB), rated A1 by Moody’s and A by Fitch, has successfully issued a $750 million senior unsecured Sukuk with a five-year tenor at a profit rate of 4.402 percent, equivalent to 80 basis points over US Treasuries.

The final pricing came well inside QIB’s fair value, reflecting a 35 basis points tightening from Initial Price Thoughts of 115 basis points area. Notably, this marks the first Sukuk from a Qatari financial institution in 2026 and the lowest profit rate achieved by a GCC bank on a 5-year senior Sukuk in the last twelve months.

Following the announcement of the transaction on Wednesday morning, QIB held a series of investor calls with accounts across Europe, Asia and the Middle East. Strong initial feedback provided the confidence to open orderbooks the following day on Thursday morning at GCC open.

Demand accelerated rapidly, with the orderbook reaching a peak of $1.7 Billion, representing 2.3 oversubscription and ranking among the strongest recent Sukuk orderbooks.

The strength and quality of investor interest enabled QIB to tighten pricing decisively in a single iteration, finalizing at 80 basis points over the US Treasury Rate. The issuance attracted a well-diversified international investor base, comprising banks, private banks, asset managers and official institutions from across the global markets.

QIB Group Chief Executive Officer Bassel Gamal said, “The successful issuance of our $750 million Sukuk underscores the depth of global investor confidence in Qatar’s strong and stable economy, it’s investor friendly policies along with QIB’s strategy, financial strength and disciplined execution. 

The strong demand and pricing outcome reflect the market’s recognition of our resilient business model and consistent performance across cycles. This transaction further diversifies our funding base, enhances our liquidity profile and positions QIB to continue supporting Qatar’s economic growth while delivering sustainable long-term value to our stakeholders.”

The Sukuk will be rated A by Fitch and will be listed on the London Stock Exchange’s International Securities Markets. The Joint Lead Managers and Joint Bookrunners were Abu Dhabi Islamic Bank, Bank ABC, Citi, Dubai Islamic Bank, Dukhan Bank, Emirates NBD Capital, KFH Capital, Mashreq, MUFG, Q Invest, QNB Capital, Standard Chartered Bank, The Islamic Corporation for the Development of the Private Sector and Warba Bank.