November 21, 2011 / 7:57 PM / 6 years ago

UPDATE 1-Albaraka Turk names banks for sukuk roadshow

(Adds confirmation by Albaraka CEO)

DUBAI, Nov 21 (Reuters) - Albaraka Banking Group’s Turkish unit Albaraka Türk Katlm Bankas has mandated four banks on a series of investor meetings and may issue an Islamic bond as early as next month, a banker familiar with the matter said on Monday.

“Albaraka Turk mandated Deutsche Bank, Emirates NBD, Noor Islamic Bank and QInvest to arrange fixed income meetings in Asia, Europe and the Middle East starting Nov 26,” the banker, who asked not to be named, told Reuters.

A U.S. dollar sukuk may be issued following those meetings and subject to market conditions, the banker added.

Albaraka Banking Group’s chief executive, Adnan Yousif, confirmed the report in a text message sent to Reuters.

Bahrain-based Albaraka Banking Group said in September its Turkish unit closed a $350 million dual-currency syndicated murabaha financing facility. (Reporting by Mirna Sleiman and Shaheen Pasha; Editing by Firouz Sedarat)

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