Boubyan Bank announced that it has obtained the approval of the Kuwait Capital Markets Authority to issue Sukuk within the first additional tranche of capital with a value not exceeding a maximum of $ 500 million or its equivalent in currencies Other.
Boubyan said in a statement to the Kuwaiti Stock Exchange today, Sunday, that in the event that it is decided later to offer, market and sell these sukuk in the State of Kuwait, a prospectus will be prepared in accordance with the provisions of the law No. (7) of 2010 and its implementing regulations and their amendments.
Boubyan Bank's profits fell 48.6% in the first nine months of this year, to reach 23.242 million dinars, compared to 45.229 million dinars for the same period of 2019 .
The credit rating agency, Standard & Poor's Global Ratings, confirmed, in mid-November, Boubyan Bank's long-term rating at -A; With a stable outlook.
