Warba Bank announced that it had obtained the approval of the Kuwait Capital Markets Authority to issue sukuk within the first additional tranche of capital, amounting to $250 million or its equivalent in other currencies.< /p>
Warba said in a statement to the Kuwaiti Stock Exchange, today, Wednesday, that if it was decided to offer these sukuk in the State of Kuwait, a prospectus would be prepared in accordance with the provisions of Law No. (7) ) for the year 2010 and its executive regulations and amendments.
The bank confirmed that it would proceed with the issuance procedures and disclose any material information in this regard at a later time.
The bank had announced in late September that the Kuwait Capital Markets Authority had agreed to increase the bank's capital by 42.5 million dinars. By issuing 425 million new shares.
In late August, the Bank announced the approval of the Central Bank of Kuwait to increase Warba's capital
It is worth noting that the bank turned to profitability in the first half of this year, with a value of 6.056 million dinars, compared to losses for the corresponding period of 2020 of 14.876 million dinars.
