Nasdaq Dubai Welcomes Sharjah Islamic Bank's USD 500 Million Sukuk Listing Amid Strong Investor Demand

Sharjah Islamic Bank's latest Sukuk listing on Nasdaq Dubai underscores the robust demand from international and regional investors, highlighting the dynamic nature of the UAE's capital market.

Nasdaq Dubai Welcomes Sharjah Islamic Bank's USD 500 Million Sukuk Listing Amid Strong Investor Demand

Summary

Nasdaq Dubai has welcomed a USD 500 million Sukuk issued by Sharjah Islamic Bank, which was oversubscribed three times. This listing highlights the strong demand for Islamic financial instruments and reinforces Nasdaq Dubai's position as a leading global market for Sukuk issuances.

Dubai, 11 July 2024 – Nasdaq Dubai has announced the listing of a USD 500 million Sukuk issued by Sharjah Islamic Bank (SIB). This marks the sixth issuance under the bank's USD 3 billion Trust Certificate Issuance Programme, which was established in 2013. The Sukuk, set to mature in 2029, attracted strong demand from both global and regional investors, being oversubscribed three times with orders totaling USD 1.5 billion.

The oversubscription of SIB's Sukuk highlights the global appeal of the UAE's dynamic capital market. With this issuance, the total listings by SIB on Nasdaq Dubai, comprising two senior unsecured Sukuk and one Additional Tier 1 Capital Sukuk, now stand at USD 1.5 billion. The total value of Sukuk listed on Nasdaq Dubai has reached USD 93.89 billion, reinforcing its status as a leading global market for Sukuk issuances. The total value of listed bonds and Sukuk on Nasdaq Dubai now stands at USD 134.1 billion.

To commemorate the listing, HE Ahmed Saad Ibrahim, Deputy CEO of Sharjah Islamic Bank, rang the bell at the market-opening ceremony at Nasdaq Dubai. He was joined by Hamed Ali, CEO of Nasdaq Dubai and DFM. HE Ahmed Saad expressed his delight at the strong demand for the Sukuk, attributing the success to investors' confidence in SIB's strategy and the bank's consistent performance in international capital markets.

Hamed Ali, CEO of Nasdaq Dubai and DFM, welcomed the successful issuance, reiterating Nasdaq Dubai's commitment to providing a dynamic and effective marketplace for Islamic finance. He emphasized that by facilitating such listings, Nasdaq Dubai continues to support the growth and diversification of Islamic capital markets, offering issuers unparalleled visibility and access to a diverse investor base.

Given the robust demand for Islamic financial instruments and the strong performance of SIB's Sukuk, investors might consider holding their positions in DFM PJSC. The consistent growth and strategic positioning of Nasdaq Dubai in the global Sukuk market indicate a stable outlook, although market conditions should always be monitored closely.

Source

Press release - Nasdaq Dubai Welcomes USD 500 million Sukuk by the Sharjah Islamic Bank

Summary

Nasdaq Dubai has listed a USD 500 million Sukuk issued by Sharjah Islamic Bank (SIB), which was oversubscribed three times, indicating strong demand from international and regional investors. This is the sixth issuance under SIB's USD 3 billion Trust Certificate Issuance Programme, established in 2013, and will mature in 2029. The total value of Sukuk listed on Nasdaq Dubai now stands at USD 93.89 billion, with the total value of listed bonds and Sukuk reaching USD 134.1 billion. The listing event was marked by a bell-ringing ceremony attended by HE Ahmed Saad Ibrahim, DCEO of SIB, and Hamed Ali, CEO of Nasdaq Dubai and DFM. Both executives highlighted the significance of the listing in reinforcing Nasdaq Dubai's role as a leading global market for Sukuk and supporting the growth of Islamic finance.

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