Regulatory Approval Obtained for Warba Bank’s Second Sukuk Issuance Not Exceeding KWD 150 Million

In a filing made to Boursa Kuwait on the 27th of May 2020, Warba Bank announced that it had received approval from regulatory authorities, namely the Central Bank of Kuwait, as well as the Capital Markets Authority, for its second Sukuk issuance, not exceeding KWD 150 million.

According to the filing, this issuance will be made under the umbrella Sukuk Program, not exceeding USD 2 billion, or the equivalent in other currencies. In a statement made in the filing, Shaheen Hamad al Ghanem, Warba Bank’s Chief Executive Officer, stated that Warba Bank would proceed with steps needed to finalise the second Sukuk issuance, and would accordingly continue to disclose any relevant material information in this regard.