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KIB obtains central bank’s initial approval for Sukuk issuance

KIB obtains central bank’s initial approval for Sukuk issuance
The Sukuk programme is valued at a maximum KWD 2 billion
KIB
KIB
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Mubasher: Kuwait International Bank (KIB) has received preliminary approval from the Central Bank of Kuwait (CBK) on 30 June for a Sukuk issuance programme.

The value of the issuance is up to KWD 2 billion, or the equivalent in other currencies.

The first issuance offering will be valued at KWD 750 million, according to the bank’s statement to Boursa Kuwait on Thursday.

KIB revealed that the final approval is subject to presenting the prospectus associated with the issuance.