Al Rayan Investment advises Estithmar Holding on Qatar’s first QAR sukuk issue



Al Rayan Investment LLC is pleased to announce the issuance of the first Qatari Riyal sukuk. Issued by the Estithmar Holding, the QAR 500 million sukuk is the inaugural tranche of company’s QAR 3.4 billion sukuk program and is listed on the London Stock Exchange’s International Securities Market (ISM).

Al Rayan Investment LLC has been an advisor on Estithmar Holding’s capital raising journey and is a joint lead arranger on this transaction. Al Rayan Investment LLC is a 100%-owned subsidiary of Masraf Al Rayan QPSC.

“It is a proud moment for Estithmar to have tapped the Qatari Riyal sukuk market and Masraf Al Rayan is delighted to have played an important role in the success of this landmark transaction,” commented Fahad Al Khalifa, Group Chief Executive Officer of Masraf Al Rayan.

Eng. Mohamed Bin Badr Al-Sada, Group Chief Executive Officer of Estithmar Holding, said, “We are proud to be the first issuer of corporate Sukuk in Qatari Riyal. It is an important milestone for Estithmar Holding and marks the confidence of investors in the strategic growth plans of our company and is an important development for the Qatari debt market and the future of Islamic-compliant funding.”

Estithmar Holding is a leading Qatari conglomerate, focused on healthcare, hospitality and real estate development, providing general services and specialised contracting in Qatar and internationally.

Akber Khan, Acting Chief Executive Officer of Al Rayan Investment added, “My team and I congratulate Estithmar Holding on their pioneering achievement. ARI is an active DCM house and continues to advise issuers in Qatar, the Gulf and beyond.”

Established in 2007 in Doha, Al Rayan Investment LLC is a leading investment firm, focused on asset management and corporate advisory. Al Rayan Investment is authorised by the Qatar Financial Centre Regulatory Authority and licensed by the Qatar Financial Markets Authority.