Search Site

Trends banner

‘Wadeem’ sold out for $1.49bn

This is the highest Abu Dhabi real-estate release to date.

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

Kuwait’s Warba Bank celebrates listing of $250m Sukuk on Nasdaq Dubai

This was the bank's third Sukuk listing on Nasdaq Dubai.
  • This was the third listing after a $250 million and a $500 million instrument in Mar 2017 and Oct 2019 respectively.
  • The new listing brings the total outstanding value of the bank’s Sukuk on the exchange to $898 million.

Kuwait’s leading Islamic bank, Warba Bank, celebrated the listing of the bank’s $250 million perpetual Tier-1 Sukuk on Nasdaq Dubai with the ringing of the market-opening bell by its CEO Shaheen Al-Ghanem.

Emirati media reports said this is the third Sukuk listing by Warba Bank on Nasdaq Dubai, following the listing of a $250 million and a $500 million instrument in March 2017 and October 2019 respectively.

The latest issuance was priced at 4 percent and oversubscribed by 4.4 times, the reports said.

This new listing brings the total outstanding value of the bank’s Sukuk on the exchange to $898 million and strengthens Dubai capital markets’ status amongst the leading Sukuk listing venues globally with a total value of $79.4 billion.

Al-Ghanem said, “Our latest Sukuk issuance witnessed significant success in attracting regional and international investors and is a clear testament on their confidence in Warba Bank’s expansion strategy in various business activities such as investment, treasury, corporate and retail banking.

Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market, who attended the bell-ringing ceremony, said, “Nasdaq Dubai is pleased to welcome the new Sukuk issuance from Warba Bank as part of its active role to support leading issuers from the UAE and beyond. The constant listings from leading regional and international financial institutions, such as Warba Bank, underscore their confidence in Nasdaq Dubai’s regulatory framework and its support infrastructure.”