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DUBAI/WAM
Nasdaq Dubai welcomed the listing of US$500 million Sukuk issued by the Sharjah Islamic Bank (SIB). This marks the sixth issuance under the bank’s USD 3 billion Trust Certificate Issuance Programme which was established in 2013.
The Sukuk, which will mature in 2029, attracted strong demand from both global and regional investors, being oversubscribed 3 times with orders totaling US$1.5 billion. This reflects the global appeal of UAE’s dynamic capital market. With this issuance, the total listings by SIB, comprising two senior unsecured Sukuk and one Additional Tier 1 Capital Sukuk on Nasdaq Dubai, stands at US$1.5 billion.
The total value of Sukuk listed on Nasdaq Dubai adds up to US$93.89 billion, reinforcing its status as a leading global market for Sukuk issuances, and the total value of listed bonds and Sukuk on Nasdaq Dubai now reaches US$134.1 billion.
To celebrate the listing, Ahmed Saad Ibrahim, DCEO, Sharjah Islamic Bank rang the bell at the market-opening ceremony at Nasdaq Dubai, joined by Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM).
Ahmed Saad said, “We are delighted by our latest Sukuk listing on Nasdaq Dubai, which showcased strong demand from international and regional investors. The success of our Sukuk reflects investors’ strong belief in SIB’s strategy as we develop our activities across all our areas of business and operations.
“Our vision is to continue innovating and providing excellent financial services that cater to the needs of our diverse clientele. We have been consistent and successful in our foray into the international capital markets, an indication that the bank remains strong under prudent management. This success is a testament to our team’s dedication, the trust of our stakeholders, and our unwavering commitment to sustainable growth.”
Hamed Ali, CEO of Nasdaq Dubai and DFM, said, “We welcome SIB’s successful Sukuk issuance on Nasdaq Dubai. This listing reiterates our commitment to providing a dynamic and effective marketplace for Islamic finance. By facilitating these listings, Nasdaq Dubai continues to support the growth and diversification of the Islamic capital markets, offering issuers unparalleled visibility and access to a diverse investor base.”