In a strategic move to bolster its capital base, Ajman Bank has successfully listed a USD 300 million Additional Tier 1 (AT1) Perpetual Sukuk on Nasdaq Dubai. This marks the bank's first foray into capital securities, underscoring its commitment to engaging with capital markets and enhancing its financial robustness.

The Sukuk, structured under a Mudaraba arrangement, carries a profit rate of 6.50 percent. It attracted significant investor interest, with the order book peaking at over USD 500 million, indicating approximately 1.7 times oversubscription. This strong demand highlights the confidence investors place in Ajman Bank's strategic direction and financial health.

Geographically, the issuance saw 89% of the Sukuk allocated to investors from the MENA region, with the remaining 11% distributed among international investors from the UK, Europe, and Asia. This diverse investor base not only strengthens Ajman Bank's capital position but also diversifies its funding sources, paving the way for sustainable growth.

Mustafa Al Khalfawi, CEO of Ajman Bank, expressed satisfaction with the successful issuance and listing, viewing it as a crucial step in the bank's capital markets journey. He emphasized that the transaction not only enhances the bank's capital position but also aligns with its focus on sustainable growth and long-term value creation for stakeholders.

Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM), highlighted the role of Sukuk in supporting the capital requirements of financial institutions across the region. The listing of Ajman Bank's Sukuk reinforces Nasdaq Dubai's position as a leading venue for Sukuk issuance, with the total value of outstanding Sukuk on the exchange now reaching USD 98 billion.

For investors, the successful listing of Ajman Bank's Sukuk on Nasdaq Dubai presents a compelling case for confidence in the bank's strategic initiatives and the broader UAE economy. Given the strong investor demand and the strategic benefits of the issuance, holding the instrument could be a prudent choice for those looking to maintain exposure to the dynamic financial landscape of the UAE.