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.
