IslamicFinance.de

Warba Bank participated in the launch of the Islamic Development Bank’s (IDB) most recent Sukuk issuance. The IDB has issued a five-year $1.25 billion Sukuk at an annual return of 2.661%. In terms of the final allocation, 53% of the issue size has been allocated to investors in EMEA, while 47% has been allocated to Asia. 57% of the issue size has been allocated to central banks and official agencies, while 43% has been allocated to banks and fund managers. Shaheen Hamad Al Ghanim, CEO of Warba Bank, said he was proud to participate in IDB's latest issuance, which came in addition to the Bank’s launch of its $250 million Sukuk earlier this year. That has been a key factor in making the bank the first option to manage Sukuk issuances. Al-Ghanim pointed out that Warba Bank would continue its strategy and explore investment opportunities in the regional and international markets that yield maximum returns.