Nasdaq Dubai has announced the listing of a USD 500 million Sukuk issued by Sharjah Islamic Bank (SIB).
This marks the sixth issuance under SIB’s USD 3 billion Trust Certificate Issuance Programme, established in 2013.
The Sukuk, maturing in 2029, attracted strong demand from global and regional investors, being oversubscribed three times with orders totaling USD 1.5 billion. This significant interest underscores the global appeal of the UAE’s capital market. With this issuance, SIB’s total listings on Nasdaq Dubai now amount to USD 1.5 billion, encompassing two senior unsecured Sukuk and one Additional Tier 1 Capital Sukuk.
The total value of Sukuk listed on Nasdaq Dubai now stands at USD 93.89 billion, reinforcing its status as a leading global market for Sukuk issuances. Additionally, the total value of listed bonds and Sukuk on Nasdaq Dubai has reached USD 134.1 billion.
To celebrate the listing, HE Ahmed Saad Ibrahim, DCEO of SIB, rang the market-opening bell at Nasdaq Dubai. He was joined by Hamed Ali, CEO of Nasdaq Dubai and DFM.
HE Ahmed Saad expressed delight at the strong demand for the Sukuk, attributing it to investor confidence in SIB’s strategy and prudent management.
“Our vision is to continue innovating and providing excellent financial services to meet the diverse needs of our clientele. This successful Sukuk issuance is a testament to our team’s dedication, stakeholder trust, and commitment to sustainable growth,”
he stated.
Hamed Ali, CEO of Nasdaq Dubai and DFM, welcomed SIB’s successful issuance, emphasizing Nasdaq Dubai’s role in supporting the growth and diversification of the Islamic capital markets. This listing, he said, offers issuers unparalleled visibility and access to a diverse investor base.
This Sukuk is SIB’s ninth public issuance and its first since 2020, highlighting strong global investor interest and confidence in the UAE banking sector.
News Source: Dubai Media Office
