KHCB successfully finalizes issuance of Sukuk worth USD 159 Million

KHCB successfully finalizes issuance of Sukuk worth USD 159 Million

Khaleeji Commercial Bank (KHCB), one of the leading Islamic Banks in the Kingdom of Bahrain, has recently announced that it has successfully finalized issuance of Sukuk worth USD 159 Million fully covered by GFH Financial Group as the sole subscriber. This issuance proceeded after the approval of regulatory authorities and the Extraordinary General Assembly earlier this year, as Shareholders had initially supported the Bank to issue Sukuk as Additional Tier 1 (AT1) Capital worth up to USD 200 Million, with the aim of reinforcing the capital base and contributing to the achievement of intermediate objectives within the Bank's new strategy. On this occasion, KHCB CEO Mr. Sattam Sulaiman Algosaibi stated: “The successful closing of the AT1 reflects the Bank's well-thought-out financial and investment approach in opting for the