Nasdaq Dubai Welcomes Ajman Bank's $500 Million Sukuk Listing, Highlighting Islamic Finance Growth

Ajman Bank has marked its entry into the international exchange market with a US$500 million Senior Sukuk listing on Nasdaq Dubai. This is the bank's first Sukuk issuance, part of its US$1.5 billion Trust Certificate Issuance Programme. The Sukuk attracted significant interest, being oversubscribed 5.4 times by over 100 global investors.

The five-year Sukuk, set to mature in 2030, highlights the increasing popularity of Sharia-compliant financial products from UAE institutions. Mustafa Al Khalfawi, CEO of Ajman Bank, celebrated this milestone by ringing the market-opening bell at Nasdaq Dubai alongside Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM).

Mustafa Al Khalfawi stated, "This debut Sukuk issuance marks a strategic milestone in Ajman Bank’s journey, aligned with our ongoing efforts to diversify our funding base and broaden investor access. The positive response from the global market reflects confidence in our financial performance and future outlook. Listing on Nasdaq Dubai reinforces our commitment to international standards of transparency and growth."

This listing signifies the robust partnership between Ajman Bank and Nasdaq Dubai in advancing Islamic capital markets. It also strengthens Dubai's position as a leading hub for Sukuk listings globally.

Hamed Ali expressed his satisfaction with Ajman Bank joining Nasdaq Dubai’s expanding network of regional and international issuers. He remarked, "We are pleased to welcome Ajman Bank to Nasdaq Dubai’s growing community of regional and global issuers. This debut listing reflects the dynamic momentum in the Islamic capital markets and reinforces Dubai’s position as a global center for Sukuk listings. We are proud to support Ajman Bank in this important milestone and look forward to deepening our collaboration in the future."

Ajman Bank now stands among an esteemed group of regional and international banks listed on Nasdaq Dubai. This contributes to the USD 30.6 billion currently represented by 51 debt instruments from financial institutions on the exchange.

Significant Milestone for Nasdaq Dubai

The inclusion of Ajman Bank's Sukuk has increased the total value of Sukuk listed on Nasdaq Dubai to USD 96.9 billion. Overall, debt instruments on this exchange now surpass US$139 billion, cementing its reputation as a premier venue for Islamic fixed income products worldwide.

This development underscores both Ajman Bank's strategic growth initiatives and Nasdaq Dubai's role in supporting such advancements within Islamic finance markets.

With inputs from WAM