Kuwait – Mubasher: Warba Bank said it is in the process of granting approvals from regulatory entities to issue Islamic mudarabah sukuk with unlimited duration period.
The sukuk will be complied with the additional capital (AT1) tier 1, with a maximum issuance amounting to $250 million, the bank said in a bourse statement issued on Wednesday.
Such issuance will endorse Warba’s capital base, according to capital adequacy ratio (CAR) – Basel III.
The sukuk will be offered in Kuwait, the bank clarified.
