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

1 min read
In May last year, the CBK issued bonds and tawarruq with an accumulated value of $1.2 billion). (QNA)
By TRENDS Desk
August 23, 2022 5:06 pm
  • 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.

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