CORRECTED-Qatar c.bank says to issue 4 billion riyals debt

Sun Mar 10, 2013 5:32am EDT

(Corrects amount of sukuk)

DUBAI, March 10 (Reuters) - Qatar's central bank said on Sunday that it would issue 1 billion riyals ($300 million) worth of local currency sukuk and 3 billion riyals worth of local currency conventional bonds, as part of an adjustment of monetary policy and in order to help commercial banks meet Basel III liquidity requirements.

The central bank did not give the time period for these issues; it said the timing would be announced later. Local currency debt will be issued every quarter, half with three-year maturities and half with five-year, it said in a statement.

Last Thursday, the state-run Qatar News Agency reported that the central bank would sell a combined 4 billion riyals of three- and five-year bonds and sukuk. (Reporting by Martin Dokoupil and Amena Bakr; Editing by Andrew Torchia)

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