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14 October 2019
SUKUK

Kuwait’s Warba Bank lists $500 million Sukuk on Nasdaq Dubai

The lender will use the proceeds to support further expansion and development plans across a full range of banking and investment services as well as its commitment to Shari’ah-compliant financing solutions.

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Kuwait’s Warba Bank has listed its $500 million Sukuk on Nasdaq Dubai, the second Islamic bond to be listed by the Shari’ah compliant bank following the listing of a $250 million instrument in March 2017.

Shaheen Al-Ghanem, the Chief Executive of Warba Bank, said, “The Sukuk attracted investors from the GCC, the wider MENA region and beyond, underlining the confidence of the market in Warba Bank’s dynamic expansion strategy in business sectors including investment, corporate and retail banking.”

Abdul Wahed Al Fahim, the Chairman of Nasdaq Dubai, said that Warba Banks’ Sukuk issuance and listing underlines the accelerating growth and development of the Islamic bond market as an efficient means of raising capital from a wide range of regional and global investors.

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