Bahrain’s KHBC Shareholders Nod to Issue USD 200 Million AT-1 Sukuk and Delist Shares from DFM

Khaleeji Commercial Bank (KHCB) of Bahrain has received shareholder approval to issue Sukuk as Additional Tier 1 (AT-1) Capital and to delist KHCB’s shares from Dubai Financial Market (DFM). This approval was received on the 25th of March 2020 at the bank’s Ordinary and Extraordinary General Meeting.

With this approval, KHCB is expected to issue up to USD 200 million of AT-1 Sukuk, with the view of strengthening the bank’s capital base. Further details on the Sukuk are yet to be made public by KHCB.

In addition, KHCB’s Board has received the shareholders’ approval to carry out the required procedures to delist the bank from DFM, and to appoint a market m...