Warba Bank wins 6 global awards for its leadership in Sukuk and innovative Sharia-compliant investment solutions

Worqa Bank achieved a milestone by winning six prestigious awards at the Islamic Finance News (IFN) Awards, in recognition of its leadership in structuring and managing sukuk issuances, delivering distinctive investment solutions, and innovating in digital banking services.

This achievement extends the bank’s track record of receiving global awards and accolades in the field of Islamic finance, reflecting its commitment to developing Sharia-compliant financial solutions, strengthening its presence in global markets, and continuing to build strategic partnerships with major financial institutions and corporations worldwide, while advancing digital innovation in financial products and services. Last year, the bank also won six similar IFN awards, including one related to a financing transaction it structured and managed.

Worqa Bank’s receipt of the six awards recognizes its participation in structuring and managing financing transactions characterized by diverse structures and nature, demonstrating the bank’s capabilities in Islamic finance.

The awards underscore the bank’s ongoing role in capital and Islamic finance markets, through providing innovative solutions that comply with Sharia principles and meet the needs of institutions and corporations, as well as its ability to contribute to executing specialized transactions.

This achievement reflects Worqa Bank’s continuous development in Islamic finance capabilities, as the bank participates in transactions spanning multiple markets, leveraging its expertise in global markets.

These capabilities align with the bank’s strategy to enhance its position as an Islamic financial institution capable of offering advanced financing solutions to corporations and institutions, while maintaining compliance with Sharia principles and internationally recognized professional standards.

Worqa Bank participated in structuring a $450 million sukuk issuance for Arad Development Company, acting as lead manager and anchor underwriter. Arad Development is a real estate development company operating in the United Arab Emirates.

The transaction attracted widespread interest, with the order book reaching $2 billion, more than 3.5 times the size of the issuance, due to its nature and structure. As a result, the bank won two awards: Best Hybrid Sukuk Issuance of 2025 and Best Sukuk Transaction in the United Arab Emirates of 2025.

In a second issuance, Worqa Bank successfully issued permanent sukuk for Turkish Katilim Bank, valued at $500 million, achieving an order book worth $1.8 billion and winning the IFN Award for Best Permanent Sukuk Issuance of 2025.

Reaffirming the bank’s leadership in providing Sharia-compliant investment solutions, it also won the awards for Best Dinars Liquidity Fund and Best Dollars Liquidity Fund. These awards reflect the outstanding performance of the two funds and the efficiency of their investment strategies in managing liquidity and achieving competitive returns.

Commenting on the occasion, Acting Head of Investment Banking Group, Youssef Chourji, said: “We are proud that the bank has received prestigious awards from the Islamic Finance News Awards, which recognize the bank’s efforts and expertise in structuring and managing Islamic finance transactions. They also reflect our ability to deliver innovative financing solutions that comply with Sharia principles and meet the needs of institutions and corporations in local and global markets. This achievement serves as a motivation for us to continue developing our capabilities in financial markets and strengthening the bank’s presence as a trusted partner in executing high-quality financing transactions.”

Shourji added: “Our success in executing sukuk deals, and our collaboration with global institutions and companies, underscores the importance of specialized expertise and the ability to innovate financing structures that align with the requirements of each deal. We continue to invest in our staff and expertise, and expand our partnerships, thereby supporting our strategy to consolidate our position among active Islamic financial institutions in global markets.”

IFN is a specialized platform that tracks and covers developments in the Islamic finance sector and Islamic capital markets. Its awards also include multiple categories covering deals, financing, sukuk, and Islamic financial services.

IFN’s Deal Awards are based on an evaluation of deals submitted by financial institutions, taking into account the nature of the deal, its impact, complexity, degree of innovation, and the challenges it faced.

4 - Best Digital Offering by a Bank in Kuwait.