Emirates Islamic Debuts USD 750 Million Sustainability Sukuk on Nasdaq Dubai

Nasdaq Dubai welcomed the maiden Sustainability Sukuk issuance of USD 750 million by Emirates Islamic, one of the leading Islamic financial institutions in the UAE.

Emirates Islamic raised USD 750 million through a Sustainability Sukuk, marking a significant milestone in sustainability and Islamic finance. With robust demand and an oversubscription of 2.8 times, the Sukuk tightened the profit rate to 5.431%. Total Sukuk listings by the bank on Nasdaq Dubai reached USD 2.02 billion.

To commemorate the successful listing, Hesham Abdulla Al Qassim, Chairman, Emirates Islamic and Vice Chairman and Managing Director of Emirates NBD rang the bell at the market-opening ceremony at Nasdaq Dubai, along with Hamed Ali, CEO of Nasdaq Dubai and DFM.

Hesham Abdulla Al Qassim, Chairman, Emirates Islamic and Vice Chairman and Managing Director of Emirates NBD, said:

“The listing of our first Sustainability Sukuk on Nasdaq Dubai represents our dedication to be the pioneering Shariah-compliant bank for customers, people, and communities, as well as our continuing commitment to fostering sustainability. We are proud to partner with Nasdaq Dubai to bringing to market a wide range of financial products to our customers, helping to foster a future built on sustainable growth in accordance with Islamic values. Emirates Islamic is committed to reducing its environmental impact, in line with the UAE Net Zero by 2050.”

Hamed Ali, CEO of Nasdaq Dubai and DFM, added:

“Nasdaq Dubai welcomes Emirates Islamic’s debut Sustainability Sukuk, marking another milestone in our strong partnership. Such innovative listings not only enhance our role as the leading global hub for Islamic finance but also reinforces our commitment to driving sustainable investments and fostering a robust and diverse financial ecosystem.”

As a leading global centre for Sukuk listings, Dubai boasts an outstanding value of USD 93 billion in Sukuk issuances. Following Emirates Islamic’s latest addition, 44% of these listings by value are from UAE issuers, while 56% are from overseas issuers.

The exchange continues to solidify its status as the premier platform regionally and globally for both fixed income and ESG-related listings. It holds an outstanding total value of USD 129 billion in listed fixed income and USD 29 billion in ESG listings, of which sustainability issuances account for USD 9.5 billion, including the recent listing of Emirates Islamic.

News Source: Dubai Media Office