By: Ahmad Awad
Kuwait – Mubasher: The Central Bank of Kuwait (CBK) has issued bonds and securities worth KWD 950 million ($3.13 billion) since April 2016 in order to finance the budget deficit, sources told Mubasher on Tuesday.
The CBK’s issuances have duration between a year and five years, with an average interest rate of 1.5%.
The issuances are divided equally between traditional and Islamic banks in Kuwait through traditional Islamic securities until legislations are stated to organize the sukuk issue process, the sources added.
Translated by: Ingy ElSafy
