November 7, 2019 / 6:26 AM / 15 days ago

Dubai Islamic Bank hires banks for dollar sukuk

DUBAI, Nov 7 (Reuters) - Dubai Islamic Bank (DIB) has hired lenders to arrange meetings with investors ahead of a potential issue of five-year sukuk, or Islamic bonds, denominated in U.S. dollars, a document showed.

The bank - the United Arab Emirates’ largest sharia-compliant lender - has picked Bank ABC, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, Islamic Corporation for the Development of the Private Sector, Maybank, Sharjah Islamic Bank, Standard Chartered Bank and Warba Bank.

Investor meetings will take place in Hong Kong and London starting on Nov. 11.

Reporting by Davide Barbuscia; Editing by Kim Coghill

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