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Kuwait's central bank approves AUB sukuk

Kuwait's central bank approves AUB sukuk
Sukuk will be issued with a maximum value of $200 million - (Photo Credit: Arabianeye-Reuters)
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Kuwait - Mubasher: Ahli United Bank – Kuwait (AUB Kuwait) announced receiving approval from the Centeral Bank of Kuwait (CBK) to issue tier one sukuk, according to the bank’s statement.

According to the CBK instructions, sukuk will be issued with a maximum value of $200 million (KWD 60.4 million), the bank added.

AUB will use the revenues from selling the sukuk to enhance its capital adequacy under Basel III.