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KUWAIT, Dec 14 (Reuters) - Kuwait's financial regulator is considering requests from local companies to issue $2 billion worth of conventional bonds and sukuk, the chairman of the Capital Markets Authority, Nayef al-Hajraf, said on Wednesday.
The applications are under study for final approval, he said at a conference in Kuwait. He did not specify whether the issues would be in foreign or local currency.
Bond issuance approved by the CMA totals $4 billion since new rules covering debt sales were introduced a year ago, while sukuk stand at $700 million, Hajraf added.
He also said the CMA was working on creating regulations for a secondary market to trade bonds and sukuk in Kuwait.
(Reporting by Ahmed Hagagy; Writing by Hadeel Al Sayegh; Editing by Andrew Torchia) ((Hadeel.AlSayegh@thomsonreuters.com; +971566883310;))
The applications are under study for final approval, he said at a conference in Kuwait. He did not specify whether the issues would be in foreign or local currency.
Bond issuance approved by the CMA totals $4 billion since new rules covering debt sales were introduced a year ago, while sukuk stand at $700 million, Hajraf added.
He also said the CMA was working on creating regulations for a secondary market to trade bonds and sukuk in Kuwait.
(Reporting by Ahmed Hagagy; Writing by Hadeel Al Sayegh; Editing by Andrew Torchia) ((Hadeel.AlSayegh@thomsonreuters.com; +971566883310;))
