Kuwait City - Warba Bank announced the listing of USD 500 million sustainable sukuk on the London Stock Exchange, as part of the Bank’s USD two billion sukuk issuance program.

This listing represents the first sustainable sukuk in Kuwait, and comes as part of Warba Bank’s sustainable financing.

The Bank stated that these sukuk, which have a maturity of five years, are dedicated to supporting environmental, social and institutional projects and initiatives that are in line with global sustainability goals. The issuance witnessed a positive response from investors with a subscription volume of USD 1.8 billion, equivalent to three and a half times the size of the issuance, which confirms the growing interest in sustainable investment opportunities in the region, as these sukuk balance profitability with social and environmental responsibility.

During the listing ceremony, Mr. Abdullah Mahmoud Al-Lanqawi, Chief Treasury Officer at Warba Bank, rang the opening bell at the London Stock Exchange in the presence of prominent figures from the Kuwaiti Embassy and the Investment Office, and representatives of the banks and international institutions that partnered in the issuance.

He commented: “We are proud to announce this successful listing of Warba Bank’s sustainable sukuk, which reflects the Bank’s commitment to sustainability as part of our core strategy. These sukuk not only enhance our financial strength by providing sustainable liquidity, but also support the diversification of funding sources and compliance with international regulatory standards, including Basel Liquidity Management Standards.”

Arab Times | © Copyright 2024, All Rights Reserved Provided by SyndiGate Media Inc. (Syndigate.info).