Khaleeji Commercial Bank Successfully Issues USD 159 Million Sukuk

In a Bourse filing released on the 3rd of August 2020, Bahrain-based Khaleeji Commercial Bank (KCB) reported the successful issuance of USD 159 million worth of Sukuk. This issuance is subject to approval from regulatory authorities as well as the shareholders at an Extraordinary General Meeting.

According to the filing, shareholders support the build-up of KCB’s capital base, by backing the issuance of Additional Tier 1 Capital Sukuk of up to USD 200 million.

The issuance is anticipated to significantly strengthen KCB’s financial position and enhance capital adequacy.

The funds will go allow KCB to enter into new strategic partners...