Dubai Islamic Bank has listed a $ 1 billion Sukuk on NASDAQ Dubai.
According to the Emirates News Agency, the Sukuk subscription amounted to almost 4.5 times, at a profit rate of 2.95% annually, as these Sukuk attracted nearly 50% of investors from outside. Middle East and North Africa.
The sukuk aims to enhance the measures taken by Dubai Islamic Bank to support customers and companies, and Dubai Islamic Bank is one of the pioneering issuers of sukuk in the United Arab Emirates in terms of value, which It totaled six billion US dollars out of seven listings, including the latter.
Dr. Adnan Shalwan, CEO of Dubai Islamic Bank Group, said that investors ’great appetite for the sukuk is an affirmation of their confidence in the bank’s future strategy and activities. Given that this issuance opened the Islamic capital markets to financial institutions during the year 2020, it was appropriate that this be done by the first Islamic bank in the world.
He added: In line with the effective policy of rational leadership of the United Arab Emirates, we are determined to continue to support individuals and companies inside and outside the country in conjunction with the exit of the world from the difficulties it faced In recent months. The inclusion of these sukuk on NASDAQ Dubai strengthens our close relationship with regional and global investors.
Issa Kazim, Governor of the Dubai International Financial Center and Secretary General of the Dubai Center for Islamic Economic Development and Chairman of the Board of Dubai Financial Market, said: This new listing is confirmed by a bank. Dubai Islamic has the ability of UAE capital markets institutions to successfully cooperate, which in turn promotes economic activity in the country. Dubai will maintain its prominent position as the global capital of the Islamic economy.
It is worth noting that Dubai is one of the largest Sukuk listing centers in the world, with the total value of all Sukuk listings so far amounting to US $ 66.3 billion. p>
This listing embodies the growth in the Sukuk market as an effective way to attract investments at the regional and global levels, said Abdul Wahed Al Fahim, Chairman of the Board of NASDAQ Dubai. p>
As for Hamid Ali, CEO of NASDAQ Dubai, he was delighted to support the activities of Dubai Islamic Bank as one of the leading banks in the United Arab Emirates that has succeeded in managing many areas of Islamic finance, as well as its role in supporting the economy.
