Al Imtiaz mandates Liquid Management Centre to launch up to US$150 million Sukuk offering

Al-Imtiaz has appointed LMC to act as the mandated arranger, structuring advisor and placement agent for the Sukuk issue - for which LMC will be immediately embarking on the formation of the underwriting group prior to the full offering.

The 3 year Sukuk issue has been structured based on Islamic Investment Agency in support of Al-Imtiaz's growing investment activities in Kuwait and the region.

Commenting on this occasion, Mr. Ali Ahmed Al-Zubaid, Managing Director and CEO of Al-Imtiaz said:

"The Sukuk offer will present a valuable opportunity to Islamic investors who are keen to participate in Shari'a compliant investment opportunities offered by Al-Imtiaz - we are confident that the Sukuk will generate great enthusiasm among Islamic investors given the credential of and the value added by Al-Imtiaz services that has been created in such a short period of time since 2005."

Mr. Al Zubaid added: "We are confident that our association with LMC, which is committed to promoting Islamic finance in the industry, will help us raise resources for our targeted current and future investment activities. LMC is now playing a leading role in Islamic finance and has carved a niche for itself in the region as a strong Islamic investment bank".

On this occasion, Mr. Ahmed Abbas, Chief Executive Officer of LMC commented; "We are very proud to be associated with Al-Imtiaz, a company which has demonstrated outstanding performance in such a short span of time. The outsized profit generated in the previous two years since the company's inception is an indication of the management's prolonged experience and professionalism in this sector."

"LMC, with the support of its committed shareholders and its allied banks, is extremely pleased to have offered approximately half of the Kuwaiti Sukuk issues to date and Al-Imtiaz Sukuk represents the fourth Sukuk arrangement mandate out of Kuwait which further reflects LMC's commitment to the development of the Sukuk market in Kuwait," Mr. Abbas added.