By: Ahmad Awad
Kuwait-Mubasher: Boubyan Bank is expected to accomplish a new sukuk issuance by the end of April, said CEO and deputy chairman Adel Al-Majed.
The bank will issue sukuk worth $250 million (KWD 75.17 million) to enhance the capital.
These sukuk will cover Boubyan’s capital requirements until 2018, Al-Majed said, adding that Boubyan’s stock loans reach 30% or less.
Boubyan’s market share from Islamic finance stands at 10% for individuals, and 8% for companies, the CEO said on the sidelines of the ordinary general meeting held Monday.
Boubyan stock settled at 420 fils after an hour after Monday’s trading session started, as about 69,800 shares were traded with a value of around KWD 29,200.
