12 Aug, 2024Nasdaq Dubai Welcomes USD 500 million Sustainability Sukuk by Warba Bank

Nasdaq Dubai welcomes the listing of USD 500 million Sustainable trust certificates issued by Warba Bank, a leading Kuwaiti Islamic Bank. This is the fourth listing under their USD 2 billion trust certificate issuance programme.

This is a significant listing, as it marks the first-ever Sustainability Sukuk to be issued in Kuwait in compliance with Warba Bank’s sustainable finance framework. The 5-year certificates are designed to support eligible sustainable projects and initiatives, aligning with global sustainability goals. 

Nasdaq Dubai continues to solidify its status as the premier platform regionally and globally for both fixed income and ESG-related listings. The exchange holds an outstanding total value of USD 134 billion in listed fixed income securities and USD 30 billion in ESG listings. Among these, ESG Sukuk account for USD 18 billion, including the recent listing of Warba Bank.

The issuance received an overwhelming positive response from investors, with orders reaching USD 1.8 billion, which is 3.6 times the issuance size. This strong demand underscores the growing appetite for sustainable investment opportunities in the region.

To celebrate the successful listing, Shaheen H. Al Ghanem from Warba Bank rang the bell at the market-opening ceremony at Nasdaq Dubai, alongside Hamed Ali, CEO of Nasdaq Dubai and DFM.

 Shaheen H. Al Ghanem, CEO of Warba Bank, said:” 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. 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.”

With this additional listing, the total value of Warba Bank's Sukuk currently listed on Nasdaq Dubai reaches USD 1.25 billion through three listings.