Kuwait Islamic corporate and retail bank, known as Warba Bank, has listed a $250 million Tier-1 sukuk on Nasdaq Dubai.
This is the bank’s third sukuk on the exchange, with their total listings amounting to $898 million in value, The National News reported.
The most recent listing was 4.4 times oversubscribed by investors.
“This further strengthens ties between the capital markets of Kuwait and the UAE,” Chief Executive of Warba Bank Shaheen El Ghanem told The National News.
It is also a clear demonstration of Warba Bank’s expansion strategy in diverse business activities such as treasury, corporate, investment, and retail banking, El Ghanem added.