Boubyan Bank aims to issue USD250 million sukuk by end of April
Boubyan Bank, National Bank of Kuwait (NBK)’s subsidiary, aims to issue a USD250 million sukuk before the end of April 2016, according to the bank's CEO Adel Abdul Wahab al-Majed. Boubyan Bank said it had received regulatory approval to issue a capital-boosting sukuk worth USD250 million in January 2016. Majed stated that the sukuk would allow the bank to meet Basel III requirements and cover its capital needs until 2018. (Reuters)
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