Abu Dhabi Islamic Bank would like to confirm that the media reports published on 14 July 2010 regarding the bank’s plans to raise US$5 billion from Sukuk sales are not correct.
ADIB is not issuing a new Sukuk, but rather updating the initial program that was launched in 2006.
Unfortunately the media did not capture the information correctly and their story is misleading.
Moreover, to ensure clarity and to avoid misquotes, the ADIB team provided the media (Bloomberg & Reuters) with the below statement on 13 July 2010.
ADIB MEDIA STATEMENT ON 13 JULY 2010:
“ADIB has updated its Sukuk program in line with market practice. We, at this stage, have no immediate plans for Sukuk issuance. We will monitor the market and may look into issuance on an opportunistic basis.”
