Nasdaq Dubai Lists Dubai Islamic Bank’s $500 Million Sukuk

UAE, 24 October, 2024 : Nasdaq Dubai has announced the listing of a $500 million Sukuk by Dubai Islamic Bank (DIB), the UAE’s largest Islamic bank. Issued at a 5.25% profit rate, the additional Tier 1 (AT1) Sukuk saw strong investor demand, leading to significant oversubscription. This issuance supports DIB’s growth strategy and reinforces its position in global Islamic finance.

With this listing, Nasdaq Dubai's total Sukuk listings now stand at $93 billion across 102 listings, further solidifying its role as a global hub for Sukuk. The Sukuk attracted a diverse range of investors from Europe, Asia, and the Middle East, reflecting strong confidence in the UAE's financial market.

Dr. Adnan Chilwan, CEO of DIB, highlighted the listing as a testament to market confidence in DIB and the UAE’s economic resilience. Hamed Ali, CEO of Nasdaq Dubai and DFM, emphasized the growing demand for Islamic finance and Nasdaq Dubai’s role in supporting innovation and growth in the sector.

Source : www.zawya.com