Net foreign assets reached SAR2.59 trillion in March, their lowest level since July 2013.
Both the DFM and ADX say they are in talks to attract market makers.
The approval was granted at the firm’s annual shareholder meeting, according to a bourse filing.
Emirates NBD, First Gulf Bank, Gulf International Bank, HSBC, Noor Bank and Standard Chartered will provide the loan, three sources told Reuters.
The transaction will increase the company’s total borrowing to $600 million.
The new business will be developed as a joint venture with Bahrain-based brokerage Mubasher Financial Service.
The firm made a net profit of Dhs67.7 million ($18.4 million) in the three months to March 31.
Kirdar will replace Abdul-Rahman Salim al-Ateeqi, who will retire as chairman at the end of the current fiscal year on June 30.
The Dubai-based firm could raise between $750 million and $1 billion from the bond.
The third-largest lender by assets in the UAE, made a net profit of Dhs1.42 billion for Q1 2015.
The bank earned a net attributable profit of SAR452.3 million ($127.1 million) for the three months to March 31.
ENBD’s loan growth climbed by four per cent in the first quarter of the year.
The perpetual, non-call five deal at present has commitments from lead arrangers worth $600 million, documents showed.
The lender, 55.6 per cent owned by state fund Investment Corp of Dubai, made a net profit of Dhs1.67 billion in Q1.
Ahmad Hamad Algosaibi and Brothers (AHAB) has direct liabilities to banks and financial institutions worth around $6 billion.
The roadshows would focus on North America and Europe, and will include investment firms and listed firms.
The issue could be around $1 billion, rating agency Standard and Poor’s said.
It is the fourth bank in the UAE to report earnings so far this quarter, with all registering double-digit profit growth.
The lender, which is issuing sukuk with a wakala structure, had obtained orders worth about $1.9 billion.
HSBC Saudi Arabia needs to revamp its compliance procedures before CMA can reverse the ban, sources reportedly said.
The lender set price guidance for the bond, which will boost its Tier 1 (core) capital, in the low 7 per cent area.
The bank said in a bourse filing that net profit for the three months to the end of March was $32.4 million.
Kingdom made a net profit of SAR139.4 million ($37.2 million) in the first quarter of 2015.
The firm chose Bank Muscat and J.P.Morgan to arrange investor meetings for the bonds in the United States and Europe.
Initial price thoughts were set in the 140 basis points area over midswaps for the sukuk, which have an agency-based structure known as wakala.
The company made a net profit of Dhs86.6 million in the first quarter of 2015.
The company is looking in all regions and did not specify a minimum price level below which the acquisitions would become uneconomic.
Net profit for the three months to March 31 was QAR511 million.
The lender made a net profit of QAR420.2 million ($115.4 million) during the first quarter of 2015.
Kuwaiti companies generally do not pay taxes on income, although foreign firms pay a levy on commercial activities.