The bank said in a statement to the Saudi market that the most important features of this type of sukuk are that it supports the bank’s capital base and raises capital adequacy, in addition to diversifying funding sources. And prolonging the accrual periods of liabilities.
These instruments are not related to a specific maturity date, but rather the bank has the right to redeem them on specific dates.
The bank explained that it had obtained all the necessary approvals from the regulatory authorities to issue these instruments.
He pointed out that it was the investment company for securities and brokerage that was managing the issue of the bank’s sukuk.
The bank’s profits rose 3.6% in the past year, to reach 1.46 billion riyals, compared to 2017 profits of 1.41 billion riyals.
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