CMA Approves Listing of First Sukuk Worth 200 Million KD

The Capital Markets Authority approved, today, the listing of the sukuk issued by “KFH Tier 1 Sukuk 3 Ltd.” on the Kuwait Stock Exchange, with the issuer and the obligor committed to applying the provisions set forth in the Executive Regulations of Law No. (7) of 2010 concerning the establishment of the Capital Markets Authority and the regulation of securities activities, as amended, as well as the Exchange’s rules.

This approval comes in accordance with the provisions of Law No. (7) of 2010 and its Executive Regulations, particularly Book Eleven (Securities Trading) and Book Twelve (Listing Rules), which contain organized provisions governing the issuance and listing of bonds and sukuk, and following the recommendation issued by the Exchange.

This issuance falls within the first additional tranche of capital amounting to 200 million Kuwaiti dinars (equivalent to 650 million US dollars or other currencies), in accordance with the conditions and terms stipulated in the Exchange’s rules, and the articles mentioned in Book Eleven (Securities Trading) and Book Twelve (Listing Rules) of the Executive Regulations of Law No. 7 of 2010 concerning the establishment of the Capital Markets Authority and its amendments.

The Authority’s approval of the sukuk listing followed a review of the listing application and verification of compliance with applicable regulatory requirements and controls, reflecting the Authority’s commitment to applying the highest regulatory standards and enhancing the efficiency and integrity of listing operations at the Exchange.

This marks the first sukuk listing on the Kuwait Stock Exchange, representing a significant milestone in the development of Kuwait’s debt instruments market and in diversifying the financial instruments available to investors.