Boubian receives approval from the Central Bank and Capital Markets Authority to issue sukuk worth KD 100 million
Boubyan Bank has received preliminary approval from the Central Bank of Kuwait and the Capital Markets Authority to issue permanent sukuk as part of an additional tranche of Tier 1 capital, with a value not exceeding KD
Translated by Qiyas from الجريدة — Original source
Boubyan Bank has received preliminary approval from the Central Bank of Kuwait and the Capital Markets Authority to issue permanent sukuk as part of an additional tranche of Tier 1 capital, with a value not exceeding KD 100 million or its equivalent in other currencies.
In a disclosure to the Kuwait Stock Exchange, Boubyan Bank stated that if the issuance, marketing, and sale of these sukuk in Kuwait are subsequently approved, a prospectus will be prepared in accordance with the provisions of Law No. 7 of 2010, its executive regulations, and any amendments thereto.
The bank further noted that KAMCO Invest has been appointed as the lead manager, and Boubyan Capital for Investment as the co-manager, adding that there would be no material impact on the bank’s financial position.
