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Tuesday, 22 March 2016

Kuwait's Boubyan Bank aims to issue $250 mln sukuk by April-end

Kuwait's Boubyan Bank aims to issue sukuk worth $250 million before the end of April, the lender's chief executive said on Monday.
Adel Abdul Wahab al-Majed told reporters of the plan after the company's annual meeting.
Boubyan Bank in January said it had received regulatory approval to issue a capital-boosting sukuk worth $250 million.

Majed added that the sukuk would allow the bank to fulfill Basel III requirements and cover its capital needs until 2018.

(Reuters / 21 March 2016)
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