UAE Business: Warba Bank marks listing of $250m sukuk on Nasdaq Dubai – Gulf Digital News

UAE Business: Warba Bank marks listing of $250m sukuk on Nasdaq Dubai – Gulf Digital News

Shaheen H Al-Ghanem, CEO of Warba Bank, a leading Kuwaiti Islamic Bank, Tuesday rang the market-opening bell to celebrate the listing of the Bank’s $250 million perpetual Tier-1 Sukuk on Nasdaq Dubai.



This is the third Sukuk listing by Warba Bank on Nasdaq Dubai, following the listing of a $250 million and a $500 million instrument in March 2017 and October 2019 respectively, reported Emirates News Agency WAM, adding that the latest issuance was priced at 4% and oversubscribed by 4.4 times.



This new listing brings the total outstanding value of the Bank’s Sukuk on the exchange to $898 million and strengthens Dubai capital markets’ status amongst the leading Sukuk listing venues globally with a total value of $79.4 billion.



Al-Ghanem said: "Our latest Sukuk issuance witnessed significant success in attracting regional and international investors and is a clear testament on their confidence in Warba Bank’s expansion strategy in various business activities such as investment, treasury, corporate and retail banking.



"We are delighted to list this issuance on Nasdaq Dubai, leveraging on its world-class regulations, infrastructure and services that provide our Sukuk with a strong presence and links with regional and global investors. The