Ahli United Bank of Kuwait has obtained approval from Kuwait’s central bank to issue capital boosting sukuk worth USD200 mn. The bank however did not give a time frame for the issue. The proceeds would be used to enhance the bank's capital base in line with Basel III global banking standards. Kuwait’s Warba Bank is also said to consider a USD perpetual sukuk of USD200mn. Last year Kuwait's Capital Markets Authority released rules providing a legal basis for issuance of Islamic bonds, which is helping boost sales of sukuk. Kuwait's Gulf Bank and Boubyan Bank have both completed sukuk issues this year. (Reuters)