The lender is looking to contribute to the financing of Saudi government and infrastructure projects in sectors including electricity and oil, said Abdulwahab Al-Roshood.  Saudi Arabia, a neighbour of Kuwait, is working on several so-called mega projects expected to require large financing, including NEOM, a $500 billion flagship business zone aimed at diversifying the economy of the world’s largest oil exporter.

KFH, which sold $750 million in Additional Tier 1 sukuk in June, does not plan to raise more capital through sukuk this year, but intends to issue new Islamic bonds in 2022.

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