Kuwait Finance House gets approval for Islamic sharia-compliant bonds worth upto $1 Billion - MENA startups, innovation, and tech news

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Kuwait Finance House gets approval for Islamic sharia-compliant bonds worth upto $1 Billion
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Kuwait Finance House gets approval for Islamic sharia-compliant bonds worth upto $1 Billion

The Central Bank of Kuwait approved the request of Kuwait Finance House to issue Sukuk (a financial certificate of future owned assets, since the sharia law forbids interest payments; sharia-compliant bonds) worth up to 1 billion dollars due to the decline in profits

amidst the corona pandemic despite the sector being adequately capitalised, the Central bank of Kuwait will be supporting Tier 1 capital in accordance with Basel III requirements.

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