Emirates Islamic celebrates listing of US$750mn Sukuk on Nasdaq Dubai

DUBAI / WAM

Hesham Abdulla Al Qassim, Chairman of Emirates Islamic and Vice Chairman and Managing Director of Emirates NBD Group, rang the market-opening bell on Wednesday to celebrate the listing by the bank of a US$750 million Sukuk on Nasdaq Dubai.
The nominal value of Sukuk currently listed on Nasdaq Dubai has reached US$41.81 billion, the largest total of any exchange in the world. Total current Sukuk listings on Dubai exchanges stand at US$44.56 billion, more than any other listing centre.
The bell-ringing ceremony was held in the presence of Essa Kazim, Governor of Dubai International Financial Centre, DIFC, Secretary General of Dubai Islamic Economy Development Centre, DIEDC, and Chairman of Dubai Financial Market, DFM, Abdul Wahed Al Fahim, Chairman of Nasdaq Dubai, Jamal Bin Ghalaita, Chief Executive Officer of Emirates Islamic, and Hamed Ali, Chief Executive of Nasdaq Dubai.
Speaking at the ceremony, Essa Kazim said, “Emirates Islamic’s Sukuk underlines Dubai’s expanding leadership role in all aspects of the Sukuk sector, ranging from Sharia compliance and structuring to issuance and listing. Dubai’s exchanges are further enhancing their commercial and regulatory infrastructure in order to provide effective solutions for regional and international issuers who wish to raise capital through the Islamic financial
markets and gain high visibility for their securities.”
The Sukuk was listed on Nasdaq Dubai on June 1st, 2016.