Boubyan Bank in Kuwait recently rang the market-opening bell in celebration of being included on the Nasdaq Dubai with a Sukuk issuance amounting to $250 million U.S.
This is the first time that the bank has been granted a Sukuk issuance. This award highlights the Emirate’s position as the growing worldwide capital of Islamic economy in Dubai.
“Boubyan continues to be one of the fastest growing banks in Kuwait and the listing of our Sukuk on the region’s international exchange enhances our global profile and strengthens our links to a wide range of Islamic and other investors around the world,” Adel Abdulwahab AlMajed, vice chairman and CEO of Boubyan Bank, said. “Nasdaq Dubai provides our inaugural Islamic bond with high visibility in a respected listing environment regulated to international standards.”
This is the first time that any bank in Kuwait has received the award since 2007. Boubyan Bank is the first Tier I Sukuk in the area for this year. With this position, the bank hopes to improve its connections with capital markets in Kuwait.
