Warba Bank has announced the listing of $500 million in sustainable sukuk on the London Stock Exchange, marking a significant step in the Bank’s $2 billion sukuk issuance program. This listing is notable as it represents the first sustainable sukuk in Kuwait and is a key component of Warba Bank’s commitment to sustainable financing.
The Bank highlighted that these sukuk, with a five-year maturity, are aimed at supporting projects and initiatives that advance environmental, social, and governance (ESG) goals in alignment with global sustainability objectives. Additionally, the issuance received a strong response from investors, achieving a subscription volume of $1.8 billion—three and a half times the size of the issuance—demonstrating the increasing interest in sustainable investment opportunities in the region. These sukuk effectively balance profitability with social and environmental responsibility.
At the listing ceremony, Abdullah Mahmoud Al-Lanqawi, chief treasury officer of Warba Bank, had the honor of ringing the opening bell at the London Stock Exchange. He was further joined by distinguished guests from the Kuwaiti Embassy and the Investment Office, as well as representatives from the banks and international institutions that collaborated on the issuance.
Moreover, Al-Lanqawi expressed pride in announcing the successful listing of Warba Bank’s sustainable sukuk, noting that it reflects the Bank’s commitment to sustainability as a fundamental aspect of its strategy. He mentioned that these sukuk not only bolster financial strength by providing sustainable liquidity but also aid in diversifying funding sources and ensuring compliance with international regulatory standards, including Basel Liquidity Management Standards.
For more news on markets, click here.
