WarbaBank

Warba Bank has achieved a remarkable milestone, securing six prestigious awards across two landmark transactions, along with the coveted title of Best Digital Offering by an Islamic Bank in Kuwait. The awards were presented by Islamic Finance News (IFN), the leading global authority on Islamic finance, recognizing excellence and innovation in the sector.

The bank had acted as Mandated Lead Arranger for the private placement Sukuk issued by Norfra LNG 37 SAS, a liquified natural gas carrier based in France and controlled by Norway’s Knutsen Group. The transaction was awarded in IFN’s Deals of the Year, winning the ‘Cross Border’, ‘Structured Finance’, and ‘Europe’ Deal of the Year 2024 awards. The recognition comes as a testament to bank’s expertise in structuring and executing complex, cross-border Islamic financing spanning three jurisdictions: Norway, France and Kuwait.

Additionally, Warba Bank acted as Co-arranger on AerCap Holdings’ US$500 million Sukuk which was awarded the ‘Deal’, ‘Sukuk’ and ‘Most Innovative’ of the Year 2024. This was a debut sukuk issuance by the Obligor which was well received by the market with more than two and half times subscription of the issuance size. The achievement reinforces Warba Bank’s position as a trusted partner for diverse range of clients in the Debt Capital Markets.

Beyond its success in Islamic finance, Warba Bank’s cutting-edge digital banking solutions were also recognized for enhancing customer experience and driving digital transformation in the industry.

In this context, Chief Executive Officer of Warba Bank, Shaheen Al Ghanem, said: "We are honored to receive these awards which reflect our strategic vision, innovation and customer-centric approach. These achievements inspire us to continue delivering excellence in financial services while setting new benchmarks in Islamic banking and digital transformation to continue growing and innovating."

IFN is one of the world’s leading institutions specializing in monitoring and analyzing developments in the Islamic finance sector. It operates as an independent news and analysis platform, tracking the performance of markets and institutions active in this field. For over 20 years, IFN has published its daily bulletin and is regarded as a trusted source for regulators, investors, and researchers in Islamic banking.

The annual awards process is based on a comprehensive evaluation, during which financial institutions are invited to submit the deals they executed over the past year across various categories, including Sukuk, structured finance, real estate finance and acquisition transactions. These deals are reviewed by an independent panel of industry experts from non-competing institutions consisting of industry veterans, such as investment officers, Shariah scholars, and financial advisors.

When selecting winners, priority is given to the qualitative impact of the transaction over quantitative metrics like deal size or pricing, focusing on the following criteria: Deal Impact and Significance, Complexity, Time-to-Market, Challenges Overcome, Deal Uniqueness, Issuer Profile, and Compelling Narrative. Submissions are accepted during the month of November with the results announced at the end of January.

Commitment to Excellence

Warba Bank remains committed to pioneering Sharia-compliant financial solutions, expanding its role in the global Islamic finance sector, and leveraging technology to redefine banking experiences for individuals and businesses alike.