Mashreq Launches USD 500 Million Sukuk Listing On Nasdaq Dubai To Enhance Islamic Finance Presence

Mashreq has marked a significant milestone by listing a USD 500 million Sukuk on Nasdaq Dubai. This issuance, due in 2030, is part of Mashreq's USD 2.5 billion Trust Certificate Issuance Programme. The listing follows strong demand in the primary market and highlights Mashreq's expanding reach in international capital markets and Islamic finance.

Senior officials from Mashreq, including Ahmed Abdelaal, Group CEO; Joel Van Dusen, Group Head of Corporate & Investment Banking; and Salman Hadi, Group Head of Treasury & Global Markets, attended the market opening ceremony at Nasdaq Dubai. Ahmed Abdelaal rang the bell alongside Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM).

Abdul Aziz Al Ghurair, Chairman of Mashreq, stated: "This Sukuk listing marks an important step in Mashreq’s commitment to strengthening the global Islamic finance landscape. It is a clear demonstration of Mashreq’s long-term commitment to Islamic finance, the deepening of cross-border capital flows, and the UAE’s continued emergence as a global nexus for ethical and Sharia-compliant financing. Through this programme, we are proud to reinforce investor trust and contribute meaningfully to the maturing of Islamic capital markets."

The issuance attracted significant interest from investors globally. The orderbook reached USD 2.9 billion, nearly six times oversubscribed. This led to final pricing at UST +105 basis points with a fixed profit rate of 5.03% per annum. Such strong demand underscores investor confidence in Mashreq’s credit fundamentals.

Hamed Ali commented on the significance of this listing: "This listing reflects Mashreq’s growing ambitions in the Islamic finance sector and underscores our role as a leading marketplace that connects regional issuers with global investors. As Dubai continues to strengthen its capital markets infrastructure, we remain committed to providing an efficient and transparent platform that supports diverse financing needs and promotes sustainable growth across the financial ecosystem."

This Sukuk issuance marks Mashreq's successful return to international debt capital markets. It was notably the first public issuance from the CEEMEA region since U.S. tariffs were announced in April 2025, which had caused increased market volatility globally.

Expanding Capital Markets

Ahmed Abdelaal expressed his views on this achievement: "Our debut listing on Nasdaq Dubai marks a new chapter in Mashreq’s capital markets journey. This Sukuk issuance not only attracted strong investor interest but also affirms our disciplined approach to funding, even in a complex macro environment. As we continue to diversify our capital structure through Sharia-compliant channels, we remain committed to delivering strong fundamentals, market transparency, and sustainable value for all stakeholders."

The success of this transaction renewed confidence among market participants and was followed by several other issuances. This helped reopen the market for regional issuers.

Dubai's Growing Stature

The total value of Sukuk listed on Nasdaq Dubai has now reached USD 97.2 billion. This strengthens its position as one of the largest centres for Islamic fixed income globally. Overall debt securities listed on Nasdaq Dubai now exceed USD 140 billion across 163 issuances.

This data highlights both the depth and maturity of UAE's capital markets and Dubai's appeal as a gateway for regional and international investment.

With inputs from WAM