For the first time in its history... Kuwait Stock Exchange rings the bell for sukuk listing, starting with 'Kuwait Finance House'
Trading of Kuwait Finance House sukuk began at the Kuwait Stock Exchange with a value of 200 million dinars, in a historic step to diversify fixed-income instruments.
Translated by Qiyas from الجريدة — Original source
Trading in Kuwait Finance House’s sukuk began today on the Kuwait Stock Exchange under the ticker symbol BOK-T1-S3, with a value of 200 million dinars, in a historic step that activated fixed-income instruments in Kuwait’s capital market.
Khalid Al-Shamlan, CEO of the Kuwait Finance House Group, described this move as historic, contributing to the development of the local capital market and diversifying Islamic investment products and instruments. He noted that this issuance represents the first and largest sukuk listed on the Kuwait Stock Exchange: permanent musharaka sukuk compliant with Islamic Sharia principles, offering an initial profit distribution rate of 5.5% annually, with semi-annual distributions and a maturity period of five and a half years.
In statements to the media on the sidelines of the bell-ringing ceremony, he added that Kuwait Finance House is a pioneer in offering financing and investment products, having been the first to list a real estate investment trust (REIT).
