Bank Al-Jazira Hires HSBC, JPMorgan to Sell Islamic Bonds

Bank Al-Jazira (BJAZ) hired the Saudi Arabian units of HSBC Holdings Plc (HSBA) and JPMorgan Chase & Co. (JPM) to sell riyal-denominated Islamic bonds.

The bond sale is to “enhance the bank’s capital and support its business expansion plans,” the Saudi Arbaian lender said in a statement to the local bourse today. The bank will announce the size of the bond after investor meetings in Riyadh, Jeddah and Dammam.

To contact the reporter on this story: Shaji Mathew in Dubai at

To contact the editor responsible for this story: Claudia Maedler at

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.