Nasdaq Dubai Welcomes Warba Bank's Landmark $500 Million Sustainability Sukuk

Dubai, 12 August 2024 – In a groundbreaking move, Nasdaq Dubai has welcomed the listing of Warba Bank's USD 500 million Sustainability Sukuk. This issuance is particularly significant as it represents the first-ever Sustainability Sukuk to be issued by a Kuwaiti bank, aligning with Warba Bank's sustainable finance framework.

The five-year trust certificates are designed to support eligible sustainable projects and initiatives, in line with global sustainability goals. This listing is the fourth under Warba Bank's USD 2 billion trust certificate issuance programme, and it received an overwhelming response from investors, with orders reaching USD 1.8 billion, 3.6 times the issuance size. This strong demand underscores the growing appetite for sustainable investment opportunities in the region.

To commemorate this successful listing, Shaheen H. Al Ghanem, CEO of Warba Bank, rang the bell at the market-opening ceremony at Nasdaq Dubai, alongside Hamed Ali, CEO of Nasdaq Dubai and the Dubai Financial Market (DFM). Shaheen H. Al Ghanem expressed his enthusiasm, stating, '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.'

Hamed Ali, CEO of Nasdaq Dubai and DFM, commented, '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.'

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

For investors, this listing presents an opportunity to engage with a financial instrument that not only offers potential returns but also aligns with broader environmental, social, and governance (ESG) goals. Given the strong demand and the growing trend towards sustainable finance, it may be prudent to consider holding onto this instrument as part of a diversified investment portfolio.