Kuwait's Warba Bank issues $500 million Sustainability Sukuk, welcomed by Nasdaq Dubai.

Nasdaq Dubai is pleased to announce the listing of $500 million Sustainable Trust Certificates issued by Warba Bank, a Kuwaiti Islamic Bank. This marks the fourth listing under their $2 billion trust certificate issuance programme.

In a statement released on Monday, Nasdaq Dubai stated, "This is a significant listing as it represents the first-ever Sustainability Sukuk to be issued in Kuwait, in compliance with Warba Bank's sustainable finance framework. The five-year certificates are intended to support eligible sustainable projects and initiatives, aligning with global sustainability goals."

Nasdaq Dubai is further solidifying its position as a premier platform regionally and globally for fixed income and ESG-related listings. The exchange currently holds a total value of $134 billion in listed fixed income securities and $30 billion in ESG listings. ESG Sukuk account for $18 billion, including the recent listing of Warba Bank.

The issuance received an overwhelmingly positive response from investors, with orders reaching $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.

Hamed Ali, CEO of Nasdaq Dubai and DFM, stated, "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 $1.25 billion through three listings.