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Qatar Islamic Bank QPSC issued a $650 million tranche of Formosa sukuk listed on both the Taipei and Irish stock exchanges.

The bank said Jan. 21 that the bonds have a five-year maturity. They were issued under the bank's $4 billion trust certificate issuance program.

Formosa bonds are bonds issued in Taiwan in currencies other than the New Taiwan dollar.

Standard Chartered Bank (Taiwan) Ltd. arranged the transaction.