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Boubyan Sukuk (Trust Issuance Prog): 07 November 2019

Under this US$1bln trust certificate issuance programme Boubyan Sukuk Limited (in its capacity as issuer and trustee), subject to compliance with all relevant laws, regulations and directives, may from time to time issue trust certificates denominated in any currency agreed between the Trustee and the relevant Dealer(s). Certificates may only be issued in registered form. The maximum aggregate face amount of all Certificates from time to time outstanding under the Programme will not exceed US$1bln (or its equivalent in other currencies, calculated as provided for in the Programme Agreement).

Boubyan Bank is a Kuwait Islamic bank which was established in 2004. Boubyan Bank is one of the emerging banks in Kuwait and GCC and benefits from its relationship with National Bank of Kuwait, the major shareholder. Boubyan Bank provides a variety of banking services to individuals and corporate customers. The main activities of Boubyan Bank include accepting deposits, establishing investment funds and trading in real estate. The Bank deals with all types of Islamic transactions.

The transaction structure relating to the Certificates has been approved by the Fatwa and Shari’a Supervisory Board of the Bank, the Central Shariah Committee of HSBC Bank Middle East Limited and the Shariah Supervisory Committee of Standard Chartered Bank.