Warba Bank

Warba Bank to be listed

Kuwait's Warba Bank will be listed on the country's stock exchange tomorrow after a restriction on public trading of the stock ended. A majority of the shares in the lender, set up with a capital of 100 million dinars ($351m), were gifted to Kuwaiti nationals as part of the state's wealth sharing, with each citizen receiving 684 shares. The remaining 24 per cent is owned by the sovereign wealth fund Kuwait Investment Authority. The listing does not include sale of any new shares. Shareholders were restricted from trading their stock on the exchange for three years after the April 2010 establishment date.

Warba Bank builds portfolio of successful investments

Warba Bank announced that it has made significant progress over the past year in building its portfolio of investments in the region and the world. During 2012, Warba Bank completed a series of successful investments in various investment sectors, e.g. the purchase of a property in New York which they developed into a multi - family residential complex. Through its investments, Warba Bank seeks to achieve high returns on investments and guarantee the rights of the Kuwaiti people who are the bank's shareholder.

New Islamic bank: Warba Bank, Kuwait - shares distributed to Kuwaitis for free

The Cabinet's approval of a draft decree establishing Warba Bank, with a capital of KD 100 million of which a 76 % stake will be held by citizens and subscribed to on their behalf by the government and 24 % of its stocks held by Kuwait Investment Authority (KIA).

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