Dubai Islamic Bank has successfully issued standard permanent sukuk for tier 1 additional capital with a maturity of 5.5 years.
This deal bears the lowest return any bank in the world has ever achieved on permanent Tier 1 additional capital bonds, and is the only sukuk of its kind to be issued. In the Gulf Cooperation Council countries in the year 2020.
Despite the turmoil and instability that prevailed in the markets this year during the height of the Covid-19 epidemic, the success of Dubai Islamic Bank in achieving this historic deal It is a good testament to the bank's strong credit standing, and the great standing it enjoys with global and regional investors alike, according to what was reported in Al-Ittihad newspaper.
, which confirms the great confidence that international investors place in Dubai Islamic Bank and in the Emirate of Dubai and the United Arab Emirates in general.
and the transaction was priced following the conclusion of a call with international investors, as the sukuk attracted the interest of more than 150 major institutional investors.
