Aljazira Bank redeems USD 500 mn sukuk, Standard Chartered expands its local scope

Aljazira Bank is redeeming its USD 500 mn Tier 1 Capital Sukuk at 100% of issue price on 29 June, five years after the certificates were issued, according to a Tadawul disclosure. The transaction will cover all 2.5k units issued and has already received regulatory approval.

The move follows its return to local debt markets in March, when it raised up to SAR 1.5 bn in a private placement of SAR-denominated AT1 Capital Sukuk under its SAR 5 bn program.

Standard Chartered to expand its local scope

Standard Chartered has received the Capital Market Authority’s green light to undertake investment management and operating fund activities, according to a press release. The move “strengthens the bank’s ability to support clients across a wider range of institutional investment needs,” Standard Chartered Capital Saudi Arabia CEO Sarah AlKhelaiwi said.