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Boubayan Bank secures approval for $500M Sukuk issuance
Al-Boubyan Bank announced that it has secured preliminary approvals from the Central Bank of Kuwait and the Capital Markets Authority to issue perpetual sukuk worth up to $500 million or its equivalent, as part of the first additional tier of capital. It also issued a notice to holders of the previous sukuk issued in April 2021 of its intention to redeem them on October 1, 2026, after completing all necessary procedures. The completion of the redemption process is expected to be announced after this date. In the first half of the year, the bank achieved a profit of 54.72 million Kuwaiti dinars, an increase of 5% compared to the same period last year.
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