Mubasher: Warba Bank started the listing of a $250 million worth Perpetual Tier 1 Basel III-compliant Capital Sukuk on Nasdaq Dubai, according to a statement issued on Monday.

The bank’s chief executive Shaheen Al-Ghanem on Monday rang the market-opening bell to celebrate the listing, which will further endorse Warba Bank’s capital base and support its continued growth and development, as well as its commitment to Islamic finance. 

As more Kuwaiti firms choose Nasdaq Dubai as a listing venue, the sukuk reflects the accelerating growth in financial markets ties between the UAE and Kuwait. 

“It also reinforces Nasdaq Dubai’s status as the global leader for sukuk listings, with a total nominal value of $46.31 billion from issuers in the MENA region and beyond,” according to the statement.