Saudi Holland Bank Shareholders Approve 1.4 Bln-Riyal Sukuk

Saudi Hollandi Bank shareholders have agreed to issue an Islamic bond, or sukuk, worth 1.4 billion riyals ($373 million) to support the bank’s capital base, it said in a bourse statement on Sunday.

The bank did not say in its statement when the sukuk would be issued or give any other details.
Saudi Hollandi said early last month its board of directors had approved the sukuk pending shareholder agreement.

Reuters