* Mandates for Islamic bond between $250 mln-$300 mln
* Lender has no expansion plans for time being
By Shaheen Pasha
DUBAI, April 12 Noor Islamic Bank has two sukuk,
or Islamic bond mandates, one each in the Gulf region and
Turkey, the Dubai-based lender's chief executive said on
The deal size on both issues would be between $250 million
to $300 million, Hussain Al Qemzi told reporters on the
sidelines of a conference in Dubai.
"We're not seeing the mega deals of three or four years
ago...but we are going to do two more (sukuk) by the end of the
year," Qemzi said.
Noor Islamic Bank is 25-percent owned by Dubai Investment
Group, the investment arm of Dubai Holding, owned by the ruler
When the bank first launched in 2008, it said it aimed to be
the world's largest Islamic bank within five years through
acquisitions in countries such as Indonesia, Egypt and Britain.
But Qemzi said the lender had changed its expansion model
from before and had no plans to build presence in other markets
He also denied the bank had plans to merge with another
financial institution for the time being.
The lender posted an operating profit for the first time in
(Writing by Rachna Uppal; Editing by Dinesh Nair)