Kuwaitâs Boubyan Bank Rings Market-Opening Bell To Celebrate Listing Of USD 250 Million Tier I Sukuk On Nasdaq Dubai - Listing Reinforces Dubaiâs No. 1 Position Globally For Sukuk At 44.06 Billion Dollars

Mr. Adel Abdulwahab AlMajed, Vice Chairman and CEO of Kuwait-based Boubyan Bank, rang the market-opening bell today to celebrate the listing on Nasdaq Dubai of the bank’s first ever Sukuk issuance, valued at 250 million US dollars. The issuance, which was more than five times oversubscribed, marks the first Sukuk out of Kuwait since 2007, first Kuwaiti bank Sukuk and the first Basel III compliant Tier I Sukuk worldwide. It is also the first Tier I Sukuk out of the region in 2016.