Nasdaq Dubai has welcomed the listing of $500 million Sustainable trust certificates issued by Warba Bank, a Kuwaiti Islamic financial institution. This is the fourth listing under their $2 billion trust certificate program.
In a statement, Nasdaq Dubai reported that this was a significant listing, as it marked the first-ever Sustainability Sukuk to be issued in Kuwait in compliance with Warba Bank’s sustainable finance framework. In addition, the five-year certificates were designed to support eligible sustainable projects and initiatives, aligning with global sustainability goals.
Nasdaq Dubai continues to strengthen its position as the premier regional and global platform for fixed income and ESG-related listings. The exchange further boasts an impressive total value of $134 billion in listed fixed income securities and $30 billion in ESG listings. Among these, ESG Sukuk account for $18 billion, including the recent listing of Warba Bank.
Additionally, the issuance received an overwhelming positive response from investors, with orders reaching $1.8 billion, which is 3.6 times the issuance size. This strong demand underscores the growing appetite for sustainable investment opportunities in the region.
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Strong demand for sustainable investment opportunities
Hamed Ali, CEO of Nasdaq Dubai and DFM, stated that they were pleased to welcome Warba Bank’s Sukuk to Nasdaq Dubai. Furthermore, Ali mentioned that this listing reflected their commitment to continuously supporting green and sustainable financing initiatives in the region and providing a robust listing platform for such financial instruments.
Moreover, with this additional listing, the total value of Warba Bank’s Sukuk, currently listed on Nasdaq Dubai, reaches $1.25 billion through three listings.
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