Sharjah Islamic Bank's $500 Million Sukuk Welcomed By Nasdaq Dubai

Nasdaq Dubai has listed a US$500 million Sukuk issued by Sharjah Islamic Bank (SIB). This is the sixth issuance under SIB’s USD 3 billion Trust Certificate Issuance Programme, established in 2013. The Sukuk, maturing in 2029, saw high demand from global and regional investors, being oversubscribed three times with orders totaling US$1.5 billion. This highlights the global appeal of the UAE’s capital market.

The total value of Sukuk listed on Nasdaq Dubai now stands at US$93.89 billion, reinforcing its position as a leading global market for Sukuk issuances. Including bonds, the total value of listed bonds and Sukuk on Nasdaq Dubai reaches US$134.1 billion. This significant figure underscores the exchange's role in supporting Islamic finance growth.

Ahmed Saad Ibrahim, DCEO of Sharjah Islamic Bank, marked the listing by ringing the bell at Nasdaq Dubai's market-opening ceremony. He was accompanied by Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM). Ahmed Saad expressed delight over the strong demand for their latest Sukuk from both international and regional investors.

Ahmed Saad stated, "We are delighted by our latest Sukuk listing on Nasdaq Dubai, which showcased strong demand from international and regional investors. The success of our Sukuk reflects investors’ strong belief in SIB’s strategy as we develop our activities across all our areas of business and operations."

He further added that their vision is to continue innovating and providing excellent financial services to meet diverse client needs. The bank's consistent success in international capital markets indicates its strength under prudent management. This achievement is attributed to their team's dedication, stakeholder trust, and commitment to sustainable growth.

Commitment to Islamic Finance

Hamed Ali commented on SIB’s successful Sukuk issuance on Nasdaq Dubai: "We welcome SIB’s successful Sukuk issuance on Nasdaq Dubai. This listing reiterates our commitment to providing a dynamic and effective marketplace for Islamic finance." He emphasized that facilitating such listings supports the growth and diversification of Islamic capital markets.

This latest issuance brings SIB’s total listings on Nasdaq Dubai to US$1.5 billion, including two senior unsecured Sukuks and one Additional Tier 1 Capital Sukuk. The strong investor interest in this issuance reflects confidence in SIB's strategic direction and robust management practices.

The celebration of this milestone at Nasdaq Dubai underscores the importance of such listings in enhancing visibility and access for issuers to a diverse investor base. It also highlights the role of Nasdaq Dubai in fostering a vibrant marketplace for Islamic financial instruments.

This development marks another step forward for Sharjah Islamic Bank as it continues to expand its presence in international capital markets while maintaining a focus on sustainable growth and innovation in financial services.

With inputs from WAM