Qatar plans sukuk issue, first since 2003

(MENAFN) Qatar, the world's largest natural liquefied gas (LNG) exporter is considering issuing its first sukuks in almost ten years, as it seeks to benefit from the global demand for safe havens and sharia-compliant assets amid market volatility, Reuters reported. The plans were announced on the same day that London's latest, and most glitzy, skyscraper, the Shard, in which Qatar is a majority investor, opened. According to banks involved in the arrangement, Qatar has mandated banks for investor meetings in Kuala Lumpur and Singapore starting on July 9. A dollar-denominated sukuk issue may follow subject to market conditions, they added. The cash-rich Gulf state last issued sukuks in 2003. Qatar made USD5 billion conventional multi-tranche deal in November 2011.