The issuance of the Sukuk enhances DIB’s position in global Islamic finance and Nasdaq Dubai’s role as a Sukuk listing hub.
I announced Nasdaq Dubai, on the listing of $500 million worth of Sukuk issued by Dubai Islamic Bank, the largest bank in the United Arab Emirates that provides Islamic finance services.
The bonds were priced. Dubai Islamic Bank The additional level one (AT1), with a profit rate of 5.25% per annum, has received significant interest from investors, leading to a significant increase in subscription, according to the Emirates News Agency.
Sukuk attracts a wide range of investors
The new issue of the bank, which is dual listed on Nasdaq Dubai and Euronext Dublin, has attracted a wide range of investors such as financial institutions, private banks and fund managers in Europe, Asia and the Middle East.
This means increasing the attractiveness of Islamic financial instruments, and also reflects investors’ confidence in the UAE’s financial markets.
High demand for Dubai Islamic Bank Sukuk
The bank’s sukuk issuance, which was executed in just one trading day, achieved a spread of 133.4 basis points over US Treasuries, the lowest level recorded for the AT1 instrument since the 2009 financial crisis.
And keep it Dubai Islamic Bank, rated A3 with a stable outlook by Moody’s and A with a stable outlook by Fitch, with a total outstanding value of Sukuk issuance exceeding USD 9 billion in 11 Sukuk listings on Nasdaq Dubai.
Growing demand for Islamic finance
Hamed Ali, Chief Executive of Dubai Financial Market, said: “We welcome the recent listing of Dubai Islamic Bank’s Sukuk on Nasdaq Dubai, which reflects the growing demand for Islamic finance and the growing strength of the UAE’s capital markets.”
He added: “We will continue our efforts to provide an enabling platform that facilitates the issuance and investment of sukuk, which enhances the growth of Islamic finance worldwide.”
$93 billion of Sukuk on Nasdaq Dubai
And graduallyNasdaq DubaiCurrently, there is a total of $93 billion in outstanding sukuk in 102 listings, and $133 billion in capital markets listings.
Nasdaq Dubai supports opportunities in both Islamic finance and fixed income products.
