Warba Bank gets central bank approval for $250 million sukuk

Dubai: Warba Bank has received approval from the central bank of Kuwait to issue up to $250 million (Dh918 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.