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Al Rayan Bank plans debut £250 million sukuk issuance

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Al Rayan Bank plans debut £250 million sukuk issuance

Al Rayan Bank Plc said it mandated itself and Standard Chartered Plc to arrange investor meetings for its planned debut issuance of £250 million worth of Islamic bonds, or sukuk, which will be done through a residential mortgage-backed securitization.

The Masraf Al Rayan (Q.P.S.C.) unit said a transaction would follow in the near future, subject to market conditions.