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.”