INSEAD Day 4 - 728x90

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

Burjeel profit nearly doubles

Healthcare demand drives stronger earnings.

Kuwait central bank issues $792 bonds, tawarruq for three months

In May last year, the CBK issued bonds and tawarruq with an accumulated value of $1.2 billion). (QNA)
  • The bank said in a statement that the new securities have a return rate of 2.625 percent.
  • Tawarruq is a financing arrangement where the buyer can obtain cash immediately through a series of sale transactions.

The Central Bank of Kuwait (CBK) has issued bonds and related Tawarruq worth Kuwaiti Dinar 240 million ($792 million) payable in three months.

The bank said in a statement, carried by state news agency KUNA, that the new securities have a return rate of 2.625 percent.

Tawarruq is a financing arrangement where the buyer can obtain cash immediately through a series of sale transactions.

On Aug. 8, the bank issued bonds and Tawarruq valued at KD 160 million ($526 million), with a three-month term and return rate of 2.375 percent.

The bank issued bonds and Tawarruq for six months worth 280 million Kuwaiti dinars ($924 million) on June 6 and bonds and Tawarruq with an accumulated value of 360 million Kuwaiti dinars ($1.2 billion) on May 30.