Gulf Bank said it has received approval from the country's capital markets authority to issue a capital-boosting bond worth up to KWD100 million (USD332.5 million) to run for no more than 10 years duration. The bank said in a bourse statement that the issue would be used to reinforce the capital base in line with Basel III requirements. It added the bank had already received approval from Kuwait's central bank in February and from the general assembly on 9 March. The bank's total capital adequacy ratio stood at 15.56% in 2015, compared to a minimum regulatory requirement in Kuwait of 13%. (Reuters)