Kuwait's CBK gets approval to raise up to 120 mln dinars via bonds | Reuters:
"Commercial Bank of Kuwait, the Gulf state's fifth-largest lender by assets, has received regulatory approval to issue up to 120 million dinars ($425.8 million) of bonds, as it prepares to convert into an Islamic bank.
In April, CBK shareholders approved both the issuance of the subodinated bonds and plans to convert the lender into a full-fledged Islamic bank, making it the sixth in the oil-rich country to follow Islamic principles.
The bonds will comply with Basel-III rules, which are being phased in around the world over the next several years. Kuwait's central bank issued final guidance on capital adequacy requirements at the end of June."
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