The National Commercial Bank (NCB) announced that it has successfully completed the issuance of a Shari'ah-compliant Tier 1 subordinated Sukuk through a private placement within Saudi Arabia worth 2.7 billion riyals, and explained that this type of issuance is considered within the requirements (Basel III) to strengthen the bank's capital base and maintain the sustainability of the bank's growth and positive levels of capital adequacy.

National Commercial Bank (NCB) said in a statement on “Tadawul”. <In a statement on Tadawul, the bank indicated that these sukuk will improve the maturity periods of its liabilities and increase the diversity of funding sources, indicating that it has obtained all the necessary approvals from the regulatory authorities to issue these sukuk. He said that these sukuk are not linked to a specific maturity date, but the National Bank has the right to redeem these sukuk on a specific date, explaining that he has appointed Al Ahli Financial Company to work on managing this special issue.

The bank indicated in a statement on "Tadawul".