Dubai Islamic Bank (DIB) has appointed banks ahead of a potential benchmark-sized USD sukuk sale, banking sources familiar with the situation said on Wednesday. The planned Islamic debt issuance would come at a busy time in the GCC debt capital market, as banks, sovereigns and corporates tap international funds. DIB’s sukuk, expected to be upwards of USD500mn, is likely to be a five-year deal, said one of the bankers. The timing of the issue has not been decided yet, but the Islamic bond could hit the market next week, said the same banker. DIB’s latest sukuk was a USD500mn five-year issue in March 2016 which offered a 3.6% interest rate. The bond, part of a USD2.5bn sukuk programme, was listed on the Dubai Financial Market and the Irish Stock Exchange. DIB is rated Baa 1 by Moody’s and A by Fitch. (Gulf News)   Du. Isl. Bank (DU)   : AED5.95 as of 1 Feb. 2017, Rating: Neutral, TP: AED5.60/share, MCap: USD8,012mn, DIB UH/DISB.DU