• Qatar Central Bank gives al khaliji approval to open Islamic branch
• Initial focus is wholesale Islamic business with plans to cover other segments at a later stage.
The Dhs600m issue, priced at a spread of 250 basis points over EIBOR, is one of the first non-USD corporate sukuks issued from Qatar and is listed on the DIFX.
The deal marks the first step in al khaliji's plans to become a leading capital markets player in the GCC.
al khaliji also announced it has obtained approval from the Qatar Central Bank to open Islamic Banking branches, adding to the range of products and services it is launching this year.
The initial focus of al khaliji's Islamic banking activities will be the wholesale sector, with other segments to follow in due course.
The first Islamic branch will be located in al khaliji's head office in West Bay and forms part of the Treasury & Debt Capital Markets activities under the leadership of Biswajit Dasgupta, Senior Executive, Treasury & Debt Capital Markets.
David Proctor, Chief Executive Officer of al khaliji, commented: "2008 is proving to be a very exciting year for al khaliji. We're delighted to be able to launch another new service for our customers and complete such a high profile transaction."
Note to shareholders: the information published in the press regarding the callable period (not before 2010) is old and was previously disclosed.
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al khaliji Joint Lead Manager for Dhs600m Sukuk issue for Almana Group
- Qatar: Sunday, May 18 - 2008 at 11:10
- PRESS RELEASE
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al khaliji has completed a new Islamic banking transaction, acting as Joint Lead Manager in a Sukuk issue for the Almana Group, one of the largest business houses in Qatar.
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Posted by Lara Lynn Golden, News EditorSunday, May 18 - 2008 at 11:10 UAE local time (GMT+4)
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Notes and Media Contacts »
For further information on al khaliji, please visit www.alkhaliji.com
Press Contact:
Florence Janin
Senior Executive, Corporate Affairs, al khaliji
Maitha Al Qader
Principal, Corporate Affairs, al khaliji
About al khaliji
al khaliji was incorporated in Doha in January 2007, and completed its IPO and listing on the Doha Securities Market in August. Our aim is to become a major corporate and retail commercial bank across the Gulf and have recruited an experienced international management team and nearly 240 employee to execute this strategy.
Our shareholder structure gives us regional and local strength and depth. The bank's 191 founding shareholders, drawn from Qatar, Oman, the UAE, Kuwait and Bahrain own 43% of al khaliji's authorized and issued capital. Paid at 50%, their subscription in 312 million shares raised an initial QR1.56bn in ordinary capital. A Gulf-wide Private Placement of 288 million shares (again, paid at 50%) raised another QR1.44bn, or 40% of the bank's authorized capital. Following completion of the IPO, Qatari investors hold 17% of the bank's authorised capital, worth an initial QR600m paid at 50%. In total, al khaliji has an authorized and issued capital of QR7.2bn divided into 720 million ordinary shares paid at 50% equivalent to QR3.6bn
Our activities are underpinned by the highest standards of service, easy to understand products, and reliable, innovative technology. Built in response to customer demand for a bank that is designed to meet their needs and their lifestyles, al khaliji is bringing a new banking approach to the region in response to new research findings and customer needs.
al khaliji's key milestones
Since being established in January last year, al khaliji has passed many key milestones on its journey towards delivering what we call Next Generation banking to our customers. Our fresh approach to banking informs everything we do, from communicating important financial information to our shareholders, listening to our customers and how we talk to and treat our fellow colleagues. Highlights so far include:
2007
• January: We establish our first office in Doha's West Bay
• February: A private equity placement is launched and three senior executives appointed
• March: Designs for our branch network are finalised
• April: We launch our highly successful IPO. This attracted 86,547 Qatari investors, who applied for shares worth QR1.37bn, leaving the offer 2.28 times oversubscribed. The IPO of 120 million shares, or 17% of the bank's authorised capital, was worth an initial Q1600mn, paid at 50%.
• May: The allocation of IPO and Private Placement shares is completed
• June: We make a sponsorship of QAR 500,000 to the American School of Doha; finalise four branch locations and unveil our corporate Vision and Values
• July: Our staff training branch facility is completed. Staff numbers hit 80 and the executive team is further strengthened with Finance and Treasury appointments
• August: Our shares list on the DSM and we launch our "Conversation" by writing to all our shareholders and inviting other stakeholders to participate by giving their views on our website
• September: Building and fit out is well under way on head quarters and training branch. The first training academy is held.
• October: We launch a next generation HR policy as staff numbers swell to almost 200. Negotiates to acquire the banking business of BLC (France) SA assets in UAE, subject to regulatory clearance. Participates in a US$2.5bln refinancing deal for QTel with US $135mln loan.
• November: Participation in the Qatari Capital Markets Day at the London Stock Exchange (LSE). Complete all our appointments to the senior executive team.
• December: We celebrate Qatar National Day with a multi cultural staff event
2008
• January: We contribute $75mn as one of the mandated lead arrangers in $700mn financing deal for Barwa Real Estate Company. Appointment announcement of our Executive, Treasury.
• February: we announced our financials for the period 9 January, 2007 (date of incorporation) until 31 December 2007. We participated as an endorsement partner in the 2nd GCC Regulators' Summit which took place in Bahrain
• March: al khaliji confirmed participation on Qatar Investor Forum which will take place in New York.
• April: we announced our Q1 2008 Interim Condensed Financial Statements, 180 of al khaliji staff have undergone thorough IT Security Awareness Training. al khaliji and the Qatar Financial Centre (QFC) Authority have entered a partnership with Dun & Bradstreet (D&B), the world's premier financial data and business information provider, to develop Qatar's first Business Optimism Index
Press Contact:
Florence Janin
Senior Executive, Corporate Affairs, al khaliji
Maitha Al Qader
Principal, Corporate Affairs, al khaliji
About al khaliji
al khaliji was incorporated in Doha in January 2007, and completed its IPO and listing on the Doha Securities Market in August. Our aim is to become a major corporate and retail commercial bank across the Gulf and have recruited an experienced international management team and nearly 240 employee to execute this strategy.
Our shareholder structure gives us regional and local strength and depth. The bank's 191 founding shareholders, drawn from Qatar, Oman, the UAE, Kuwait and Bahrain own 43% of al khaliji's authorized and issued capital. Paid at 50%, their subscription in 312 million shares raised an initial QR1.56bn in ordinary capital. A Gulf-wide Private Placement of 288 million shares (again, paid at 50%) raised another QR1.44bn, or 40% of the bank's authorized capital. Following completion of the IPO, Qatari investors hold 17% of the bank's authorised capital, worth an initial QR600m paid at 50%. In total, al khaliji has an authorized and issued capital of QR7.2bn divided into 720 million ordinary shares paid at 50% equivalent to QR3.6bn
Our activities are underpinned by the highest standards of service, easy to understand products, and reliable, innovative technology. Built in response to customer demand for a bank that is designed to meet their needs and their lifestyles, al khaliji is bringing a new banking approach to the region in response to new research findings and customer needs.
al khaliji's key milestones
Since being established in January last year, al khaliji has passed many key milestones on its journey towards delivering what we call Next Generation banking to our customers. Our fresh approach to banking informs everything we do, from communicating important financial information to our shareholders, listening to our customers and how we talk to and treat our fellow colleagues. Highlights so far include:
2007
• January: We establish our first office in Doha's West Bay
• February: A private equity placement is launched and three senior executives appointed
• March: Designs for our branch network are finalised
• April: We launch our highly successful IPO. This attracted 86,547 Qatari investors, who applied for shares worth QR1.37bn, leaving the offer 2.28 times oversubscribed. The IPO of 120 million shares, or 17% of the bank's authorised capital, was worth an initial Q1600mn, paid at 50%.
• May: The allocation of IPO and Private Placement shares is completed
• June: We make a sponsorship of QAR 500,000 to the American School of Doha; finalise four branch locations and unveil our corporate Vision and Values
• July: Our staff training branch facility is completed. Staff numbers hit 80 and the executive team is further strengthened with Finance and Treasury appointments
• August: Our shares list on the DSM and we launch our "Conversation" by writing to all our shareholders and inviting other stakeholders to participate by giving their views on our website
• September: Building and fit out is well under way on head quarters and training branch. The first training academy is held.
• October: We launch a next generation HR policy as staff numbers swell to almost 200. Negotiates to acquire the banking business of BLC (France) SA assets in UAE, subject to regulatory clearance. Participates in a US$2.5bln refinancing deal for QTel with US $135mln loan.
• November: Participation in the Qatari Capital Markets Day at the London Stock Exchange (LSE). Complete all our appointments to the senior executive team.
• December: We celebrate Qatar National Day with a multi cultural staff event
2008
• January: We contribute $75mn as one of the mandated lead arrangers in $700mn financing deal for Barwa Real Estate Company. Appointment announcement of our Executive, Treasury.
• February: we announced our financials for the period 9 January, 2007 (date of incorporation) until 31 December 2007. We participated as an endorsement partner in the 2nd GCC Regulators' Summit which took place in Bahrain
• March: al khaliji confirmed participation on Qatar Investor Forum which will take place in New York.
• April: we announced our Q1 2008 Interim Condensed Financial Statements, 180 of al khaliji staff have undergone thorough IT Security Awareness Training. al khaliji and the Qatar Financial Centre (QFC) Authority have entered a partnership with Dun & Bradstreet (D&B), the world's premier financial data and business information provider, to develop Qatar's first Business Optimism Index
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