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UPDATE 1-Kuwait's Boubyan Bank aims to issue $250 mln sukuk by April-end

Mon, 2016-03-21 19:30 — newsdesk

Kuwait's Boubyan Bank aims to issue sukuk worth $250 million before the end of April, the lender's chief executive said on Monday. Adel Abdul Wahab al-Majed told reporters of the plan after the company's annual meeting. Boubyan Bank in January said it had received regulatory approval to issue a capital-boosting sukuk worth $250 million. Majed added that the sukuk would allow the bank to fulfill Basel III requirements and cover its capital needs until 2018.

Source: 

http://www.reuters.com/article/boubyan-bank-sukuk-idUSL5N16T0ZM