Nasdaq Dubai Welcomes Listing of USD 500 million AT1 Sukuk by Dubai Islamic Bank

Nasdaq Dubai welcomes the listing of USD 500 cardinal Sukuk issued by Dubai Islamic Bank (DIB), the largest Islamic slope successful the UAE. 

The further Tier 1 (AT1) Sukuk was issued astatine a nett complaint of 5.25 percent per annum and received beardown capitalist demand, resulting successful important oversubscription. This strategical issuance reinforces DIB's enactment successful the planetary Islamic concern sector, providing further superior to enactment its maturation strategy. 

With this listing, Nasdaq Dubai further cements its presumption arsenic a starring planetary hub for Sukuk, with full outstanding Sukuk present reaching USD 93 cardinal crossed 102 listings and a combined USD 133 cardinal successful superior marketplace listings. The speech remains dedicated to supporting Islamic concern and fixed-income products, providing a robust level for issuers and investors globally.

The issuance attracted a divers scope of investors, including fiscal institutions, backstage banks, and money managers from Europe, Asia, and the Middle East, underscoring the increasing entreaty of Islamic fiscal instruments and highlighting capitalist assurance successful the UAE’s robust fiscal market. The Sukuk is dual listed connected Nasdaq Dubai and Euronext Dublin.

To commemorate the listing, Saeed Wajdi, Chief of Treasury astatine Dubai Islamic Bank rang the doorbell astatine the market-opening ceremonial astatine Nasdaq Dubai, alongside Hamed Ali, CEO of Nasdaq Dubai and DFM.

Dr. Adnan Chilwan, Group Chief Executive Officer of DIB, stated: "The palmy reception of our USD 500 cardinal Sukuk listing connected Nasdaq Dubai transcends beyond reaffirming marketplace assurance successful Dubai Islamic Bank. It signifies a robust endorsement of the UAE's economical resilience and aboriginal ambitions. In enactment with the leadership's transformative vision, we are driving initiatives that fortify the nationalist system and presumption america arsenic a planetary person successful Islamic finance. This listing amplifies our profile, connecting america with a broader spectrum of investors and utilizing Nasdaq Dubai’s well-regulated level to grow our planetary scope and elevate our capitalist relations.”

Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM), said: “We invited Dubai Islamic Bank’s latest Sukuk listing to Nasdaq Dubai, which underscores the increasing request for Islamic concern and the spot of the UAE’s superior markets. We stay committed to providing a dynamic level that supports issuers and investors, fostering maturation and innovation successful Islamic concern worldwide.”

The transaction, executed intra-day, achieved a reset dispersed of 133.4 ground points implicit US Treasuries, marking the lowest for an AT1 instrumentality globally since the 2009 fiscal crisis. Rated A3 (Stable) by Moody’s and A (Stable) by Fitch, DIB presently boasts an outstanding worth of implicit USD 9 cardinal done 11 Sukuk listings connected Nasdaq Dubai. 

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