Aljazira Bank has announced the redemption of its USD 500 million Tier 1 Capital Sukuk at 100% of the issue price on June 29, five years after the certificates were originally issued. According to a disclosure submitted to Tadawul, the redemption will cover all 2,500 sukuk units outstanding and has already secured the necessary regulatory approvals.
The redemption follows the bank’s recent return to the local debt market. In March, Aljazira Bank raised up to SAR 1.5 billion through a private placement of SAR-denominated Additional Tier 1 (AT1) Capital Sukuk. The issuance was conducted under the bank’s broader SAR 5 billion sukuk program, reflecting its ongoing efforts to strengthen its capital position and diversify funding sources.
Meanwhile, Standard Chartered has received approval from Saudi Arabia’s Capital Market Authority (CMA) to undertake investment management and fund operation activities in the Kingdom. The approval expands the bank’s local capabilities and allows it to offer a broader range of investment solutions to institutional clients.
Commenting on the development, Sarah AlKhelaiwi, CEO of Standard Chartered Capital Saudi Arabia, said the authorization strengthens the bank’s ability to support clients across a wider range of institutional investment needs. The move marks another step in Standard Chartered’s strategy to deepen its presence in Saudi Arabia’s growing financial sector.