Mubasher: Warba Bank, a Kuwaiti Islamic Bank, has celebrated the listing of $250 million perpetual Tier-1 Sukuk on Nasdaq Dubai.

Oversubscribed 4.4 times, the new listing has raised the total value of the bank’s Sukuk on Nasdaq Dubai to $898 million, according to a press release on Tuesday.

The bank has previously listed $250 million and $500 million instruments in March 2017 and October 2019, respectively.

The CEO of Warba Bank, Shaheen H. 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."

Meanwhile, the CEO of Nasdaq Dubai and DFM, Hamed Ali, commented: "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."