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Monday, 16 November 2015

Kuwait's Boubyan Bank says studying capital-boosting sukuk issue

Nov 15 Kuwait's Boubyan Bank, a unit of National Bank of Kuwait, said it was in the preliminary stages of studying the issuance of Islamic bonds that would boost its capital reserves.
The sukuk will be issued in compliance with Basel III capital adequacy rules, which are being phased in around the world, it said in a statement to the bourse.
The offering still required a number of approvals, including from regulators, the statement added.
Boubyan' total capital adequacy ratio, which is a key measure of a bank's health and includes both Tier 1 - or core - and Tier 2 capital, was 18.05 percent at the end of 2014, well above the minimum 12 percent set by the country's regulator, according to a document on the bank's website.
(Reuters / 15 November 2015)
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