Kuwait, 4 October 2026: Kuwait International Bank (KIB) announced that it has won two prestigious accolades from Islamic Finance News (IFN) for its USD 300 million Tier 2 Sukuk issuance: the “IFN Kuwait Deal of the Year 2025” and the “IFN Regulatory Deal of the Year 2025,” underscoring the transaction’s significance and the Bank’s strong standing in the Islamic capital markets. The two awards were presented during the IFN Awards ceremony, recently held in Dubai. Receiving the awards on behalf of KIB were Mohammad Al-Duwailah, General Manager of Treasury Department at KIB, and Jamal Al-Barrak, CEO of KIB Invest.
The IFN awards were presented following a rigorous evaluation process conducted by an independent panel, with submitted transactions carefully assessed before one outstanding deal was selected in each category. The recognition reflects KIB’s continued commitment to excellence and innovation in Islamic finance, as well as the high standard of service that has strengthened the trust of its clients and partners across the region.
Commenting on the awards, Al-Duwailah said: “We are proud to see our landmark transaction recognized across two distinguished IFN award categories. The awards recognize the strength of the transaction, and the team behind it, further demonstrating KIB’s ability to access international capital markets through innovative Islamic financing instruments. We remain focused on maintaining a prudent and forward-looking approach to capital management that supports the Bank’s long-term growth ambitions, while advancing our commitment to delivering financial solutions aligned with environmental, social and governance (ESG) principles. This achievement encourages us to continue exploring innovative Shari’ah-compliant instruments that enhance our financial resilience and enable us to respond effectively to evolving market opportunities.”
KIB completed the USD 300 million sustainable Tier 2 Sukuk issuance in 2025 as part of its Tier 2 capital. The transaction integrated international Basel III standards with Shari’ah principles and sustainability considerations. The Sukuk generated strong demand from investors, with the order book reaching USD 2.1 billion at its peak, representing more than seven times the issuance size.
From his side, Al-Barrak said: “At KIB Invest, we are proud to have supported KIB as a Joint Lead Manager and Bookrunner on this important issuance, further strengthening our role as a trusted strategic partner to leading financial institutions across regional and global capital markets. The two IFN awards are a testament to the strength of the collaboration and the successful execution of this landmark transaction, which demonstrated strong investor confidence and achieved the highest oversubscription rate for an issuance by a financial institution in the Middle East and North Africa (MENA) region during 2025. This exceptional level of demand highlights the depth of investor appetite for high-quality Shari’ah-compliant issuances.”
The Sukuk received a BBB+ credit rating from Fitch and was listed on the London Stock Exchange. The transaction was managed by a consortium of leading international and regional financial institutions, with Citigroup and Standard Chartered acting as joint global coordinators, alongside ASB Capital, Arqaam Capital, HSBC, Kamco Invest, KFH Capital, KIB Invest and QNB Capital as joint lead managers and bookrunners.
It serves to note that the annual IFN Awards have, for more than two decades, served as one of the prominent global platforms recognizing excellence and achievement within the Islamic finance industry. The awards celebrate leading institutions and landmark transactions that contribute to the continued development and advancement of Shari’ah-compliant financial markets worldwide.