Ajman Bank's USD 500M Sukuk Debuts on Nasdaq Dubai
Ajman Bank's first Sukuk issuance marks a significant milestone for the bank and Nasdaq Dubai, reflecting robust investor confidence.
Summary
Ajman Bank's debut USD 500 million Sukuk listing on Nasdaq Dubai highlights the growing appeal of Sharia-compliant instruments and strengthens Dubai's position as a global Sukuk hub.
In a significant development for the Islamic finance sector, Ajman Bank has successfully issued its first Sukuk, valued at USD 500 million, and listed it on Nasdaq Dubai. This landmark issuance, part of Ajman Bank’s USD 1.5 billion Trust Certificate Issuance Programme, underscores the growing appeal of Sharia-compliant financial instruments from UAE-based institutions.
The Sukuk achieved a remarkable 5.4 times oversubscription, attracting interest from over 100 global investors. This overwhelming response not only highlights the confidence in Ajman Bank’s financial health and future outlook but also reflects the robust demand for Islamic finance products in the global market.
Mustafa Al Khalfawi, CEO of Ajman Bank, expressed that this debut Sukuk issuance is a strategic milestone in the bank's journey, aligning with their ongoing efforts to diversify their funding base and broaden investor access. The listing on Nasdaq Dubai, a leading international exchange for Sukuk, reinforces Ajman Bank’s commitment to international standards of transparency and growth.
Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM), welcomed Ajman Bank to the exchange’s growing community of issuers. He emphasized that this debut listing reflects the dynamic momentum in the Islamic capital markets and strengthens Dubai’s position as a global center for Sukuk listings.
With this addition, Ajman Bank joins a distinguished group of regional and international banks on Nasdaq Dubai, contributing to the USD 30.6 billion currently listed across 51 debt instruments by financial institutions on the exchange. This collaboration between Ajman Bank and Nasdaq Dubai is a testament to the strong support for the development of Islamic capital markets.
Given the successful oversubscription and the strategic importance of this listing, investors might consider a buy position on Ajman Bank's Sukuk. The strong demand and the bank's commitment to transparency and growth suggest a positive trajectory for its financial instruments.
Source
Summary
Nasdaq Dubai has announced the listing of a USD 500 million Sukuk issued by Ajman Bank, marking the bank's first Sukuk issuance and debut on the international exchange. The five-year Sukuk, maturing in 2030, was met with strong demand, achieving 5.4 times oversubscription from over 100 global investors. This issuance is part of Ajman Bank's USD 1.5 billion Trust Certificate Issuance Programme and highlights the growing interest in Sharia-compliant financial products from UAE institutions. The listing was commemorated by Ajman Bank CEO Mustafa Al Khalfawi and Nasdaq Dubai CEO Hamed Ali. The Sukuk listing contributes to the total value of USD 96.9 billion in Sukuk listed on Nasdaq Dubai, reinforcing its position as a leading Sukuk exchange. Both Ajman Bank and Nasdaq Dubai emphasized the strategic importance of this milestone in supporting the development of Islamic capital markets and enhancing Dubai's role as a global hub for Sukuk listings.
