DUBAI-- Kuwait's Warba Bank CEO, Shaheen Al-Ghanim, on Monday, rang the opening bell of the trading session at the Nasdaq Dubai Stock Exchange, announcing the listing of green financial Islamic-compliant bonds (Sukuk) worth USD 500 million on this exchange for five years.
This listing is of particular importance as it is the first-ever issuance of sustainable Sukuk in Kuwait, with the sustainability certificates having a maturity period of five years to support environmentally friendly projects and initiatives in line with global sustainability goals.
In remarks to KUNA, Al-Ghanim said that the total outstanding value of Warba Bank's Sukuk amounted to USD 1.5 billion through four listings on the NASDAQ Dubai stock exchange.

The listing of Warba Bank's sustainable Sukuk received huge interest from investors, as the subscription size reached USD 1.8 billion, nearly four times the size of the issue, which confirms the strong and growing demand for sustainable investment opportunities in the region, he added.
Al-Ghanim stated that Nasdaq Dubai continues to attract Sukuk listings at the regional and global levels, as the total value of companies listed on the exchange reached USD 134 billion, in addition to listings related to environmental, social and institutional governance.
Nasdaq Dubai welcomed the listing of these sustainable Sukuk issued by Warba Bank, one of the leading Islamic banks in Kuwait, in the first listing under the USD two billion Trust Certificate Issuance Program.


"We are keen to continue our ongoing support for green and sustainable finance initiatives in the region," CEO of Dubai Financial Market and Nasdaq Dubai Hamed Ali told KUNA.
Kuwait's government owns more than 24 percent of Warba Bank's total shares through the Public Investment Authority and the Public Institution for Social Security.
Nasdaq Dubai is the global financial exchange for the region between Western Europe and East Asia. The exchange welcomes issuers from all over the world who are looking to benefit from investment opportunities at the regional and international levels. (end) skm.aa

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