Nasdaq Dubai welcomes SIB’s $500m sukuk listing

Nasdaq Dubai welcomes SIB’s $500m sukuk listing

Nasdaq Dubai welcomes SIB's $500m sukuk listing - Emirates Business

Admin 16 hours ago Local News

DUBAI / WAM

Nasdaq Dubai on Wednesday welcomed the listing of a $500 million sukuk by Sharjah Islamic Bank (SIB). The capital raised will support SIB's activities and strategic development to cater to its customers in corporate, investment and retail banking. In a statement on Wednesday, Nasdaq Dubai said that the five-year sukuk was subscribed 7.2 times by regional and international investors with 150 investors showing their interest. "It brings the total value of SIB sukuk listings on Nasdaq Dubai to $2 billion following listings of $500 million each in 2016, 2018 and 2019,“ it added. Mohammed Abdulla, Chief Executive Officer of SIB said, "The very positive response from the market to our latest Sukuk reflects investors' strong belief in SIB's strategy as we develop our activities across all our areas of business for a wide range of businesses and individuals.“ Our listing on the region's international exchange supports our visibility regionally and globally and reflects the leading role played by UAE financial institutions in collaborating to develop the Sharia'a-compliant Sukuk markets.“ Essa Kazim, Governor of Dubai International Financial Centre, Secretary General of Dubai Islamic