The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
DUBAI / WAM
Nasdaq Dubai welcomed the listing of a $750 million conventional bond by Emirates Development Bank (EDB). It is the first product to be listed on the exchange by the bank, which is wholly owned by the UAE government.
The listing supports EDB’s mission which includes contributing to the economic prosperity of UAE nationals by providing financing solutions for housing, as well as financing and banking services to the small and medium-sized enterprise, SME, sector.
The total value of all conventional bonds and Sukuk on Nasdaq Dubai has now reached $77.78 billion from 99 listings. EDB’s bond was the first conventional bond listing of 2019 on the exchange.