Manama: Arab Petroleum Investments Corporation (Apicorp), owned by Organisation of Arab Petroleum Exporting Countries (OAPEC) member states including Bahrain, has announced the establishment of a $3 billion sukuk programme.
Establishing the programme marks a strategic step for Apicorp, rated Aa3 by Moody’s, in becoming a regular issuer of sukuk in global markets, and will position the company’s credit alongside multilateral development banks peers .