The Central Bank of Kuwait (CBK) has issued new bonds and related tawarruq worth KD 240 million ($792 million).

The securities carry a return rate of 4.375% and have a three-month maturity.

Fitch, which had assigned an “AA” rating to Kuwait said in April that the Gulf state’s fiscal and external balance sheets remain among the strongest of its rated sovereigns.

Bond issuance in the Gulf Cooperation Council (GCC) region has increased this year. From January to June 2024, primary issuances in the bonds and sukuk market raised $75.5 billion, up by 38% from a year ago, according to a report from Kuwait Financial Centre.

(Writing by Cleofe Maceda; editing by Seban Scaria) seban.scaria@lseg.com