https://arab.news/66x3h
- The issuance is the first of its kind in Kuwait under Warba Bank’s sustainable finance framework
- The sukuk attracted robust investor interest with orders totaling $1.8 billion
RIYADH: Nasdaq Dubai has listed $500 million in sustainable trust certificates issued by Kuwait’s Warba Bank, marking a significant advancement in the region’s financial sector.
The issuance, the first of its kind in Kuwait under Warba Bank’s sustainable finance framework, is part of a broader $2 billion trust certificate program, according to a press release.
The sukuk, which attracted robust investor interest with orders totaling $1.8 billion — 3.6 times the issuance size — underscores a growing appetite for sustainable investment opportunities in the Middle East.
The global sukuk market, linked to environmental, social, and governance principles, is expected to exceed $50 billion in the next two years, driven by funding diversification goals, according to Fitch Ratings.
Other factors catalyzing the growth of these Shariah-compliant debt products include new ESG mandates, regulatory frameworks, and government-led sustainability initiatives.
With this latest listing, Warba Bank’s total sukuk on Nasdaq Dubai now stands at $1.25 billion across three listings. The five-year certificates are intended to finance sustainable projects, aligning with global sustainability objectives.
The listing further strengthens Nasdaq Dubai’s position as a platform for both fixed-income and ESG listings.
The exchange now hosts $134 billion in listed fixed-income securities and $30 billion in ESG listings, of which $18 billion are ESG sukuk, including the latest issuance by Warba Bank.