DUBAI, Nov 2 (Reuters) - Warba Bank has received approval from the central bank of Kuwait to issue up to $250 million of sukuk, the bank said on Wednesday.
The bank will take a final decision on the issuance and its timing after obtaining remaining regulatory approvals, it added. The funding would be used to boost Warba’s Tier 1 capital.
Warba Bank is an Islamic lender established in 2010. (Reporting by Hadeel Al Sayegh; Writing by Davide Barbuscia; Editing by Andrew Torchia)