Khaleeji Commercial Bank and Bahrain Bourse Sign Sukuk Murabahah Agreement

Bahrain’s Khaleeji Commercial Bank (KHCB or the Bank) has signed an agreement with Bahrain Bourse (BHB) that allows the Bank to utilize Ijara Sukuk issued by the Central Bank of Bahrain (CBB) as underlying assets, according to a statement released recently.

The agreement was signed by Shaikh Khalifa bin Ebrahim Al Khalifa, the Chief Executive Officer (CEO) of BHB, Shaikh Salman bin Isa Al Khalifa, Executive Director of Banking Operations of CBB and Sattam Sulaiman Algosaibi, CEO of KHCB.

The statement reported that the move is to facilitate the completion of Murabahah Finances, a Shariah-compliant electronic brokerage service introduced by BHB to replace Commodity Murabahah. T...