Kuwait’s Warba Bank has announced the listing of sustainability Sukuk worth $500 million on Nasdaq Dubai.
According to the bank, this is the first-ever issuance of sustainable Sukuk in Kuwait, with the five-year certificates designed to support eligible sustainable projects and initiatives.
With this listing, the total value of Warba Bank’s Sukuk listed on Nasdaq Dubai reaches USD 1.25 billion through three listings, it was shared.
The issuance received orders reaching USD 1.8 billion, 3.6 times the issuance size.
Shaheen H. Al Ghanem, CEO of Warba Bank, commented: “We are thrilled to announce the successful listing of our Sukuk on Nasdaq Dubai. This initiative represents a pivotal step in our strategy to integrate sustainable practices with our financial offerings.
Adding: “By listing on Nasdaq Dubai, we are not only underscoring our commitment to environmental and social responsibility but also enhancing our visibility among discerning global investors who prioritize sustainability. This issuance allows us to lead by example in the financial sector, driving the adoption of sustainable financing solutions that support long-term environmental, social and economic sustainability.”
Hamed Ali, CEO of Nasdaq Dubai and DFM, said: “We are pleased to welcome Warba Bank’s Sukuk to Nasdaq Dubai. This listing reflects our commitment to continuously support green and sustainable financing initiatives in the region and provide a robust listing platform for such financial instruments.”