The Islamic bond, or sukuk, offer is in its early stages, said one of the bankers, who declined to be identified as the terms arenât set. A spokesman for Qatar Islamic declined to comment when called by Bloomberg News today.
As Qatari banks suffered from losses related to the global economic slowdown, the countryâs government bolstered them by taking equity stakes and agreeing to buy the banksâ real-estate portfolios of about $4.12 billion. Qatar Islamic said Dec. 31 it sold a 5 percent stake to Qatar Investment Authority, the countryâs wealth fund, for 956 million riyals ($263 million).
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