The Central Bank of Kuwait announced the allocation of a bond and tawarruq issuance worth 240 million Kuwaiti dinars (approximately 792 million US dollars).

In a statement issued today, the central bank noted that the maturity of the issuance is three months, with an interest rate of 4.125%.

The "Kuwait Central Bank" had previously announced, in September, the allocation of a bond and tawarruq issuance with a total value of 240 million Kuwaiti dinars (approximately 792 million US dollars).

Bonds are debt instruments issued by central banks in countries for borrowing purposes, with the state obligated to pay the value to the buyer on the maturity date along with interest.

As for tawarruq, it is a process that allows institutions to collect a group of receivables or debts and convert them into tradable securities. The Kuwait Finance House defines it as a "structured financing instrument, where the client receives cash for their needs after a series of sale transactions."