Nasdaq Dubai has announced the successful listing of a USD 500 million Sukuk issued by Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE.
This Additional Tier 1 (AT1) Sukuk, which offers a profit rate of 5.25 percent per annum, witnessed strong investor demand, resulting in significant oversubscription. This strategic move not only strengthens DIB's leadership in the global Islamic finance sector but also provides essential capital to support its growth strategy.
With this listing, Nasdaq Dubai reinforces its status as a leading global hub for Sukuk, bringing the total outstanding Sukuk to USD 93 billion across 102 listings, with combined capital market listings reaching USD 133 billion. The exchange remains dedicated to advancing Islamic finance and fixed-income products, offering a robust platform for global issuers and investors.
The Sukuk attracted a diverse investor base, including financial institutions, private banks, and fund managers from Europe, Asia, and the Middle East, reflecting the growing interest in Islamic financial instruments and investor confidence in the UAE’s financial market. It is dual-listed on Nasdaq Dubai and Euronext Dublin.
At the market-opening ceremony, Saeed Wajdi, Chief of Treasury at DIB, rang the bell to commemorate the listing, accompanied by Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM).
Dr. Adnan Chilwan, Group CEO of DIB, emphasized the listing as a testament to market confidence in both DIB and the UAE's economic resilience. Hamed Ali echoed this sentiment, highlighting the increasing demand for Islamic finance and the strength of the UAE's capital markets. The Sukuk transaction achieved a reset spread of 133.4 basis points over US Treasuries, the lowest for an AT1 instrument since the 2009 financial crisis, showcasing DIB's robust market position with an outstanding Sukuk value exceeding USD 9 billion across 11 listings on Nasdaq Dubai.
News Source: Dubai Media Office
