Nasdaq Dubai Welcomes Listing Of US$500 Million Sukuk By Dubai Islamic Bank

Muhammad Irfan Published April 21, 2021 | 11:15 PM

DUBAI, (UrduPoint / Pakistan Point News / WAM - 21st Apr, 2021) Nasdaq Dubai has welcomed the listing of a US$500 million perpetual Additional Tier 1 Sukuk, issued by the Dubai Islamic Bank (DIB).

The Sukuk achieved the lowest ever yield of 3.375 percent by a GCC bank on an Additional Tier 1 instrument and was 5.6 times oversubscribed with an order book that peaked at US$2.8 billion.

Dubai Islamic Bank is the leading UAE-based Sukuk issuer by value on Nasdaq Dubai with a total value of $6.3 billion including the latest $500 million listing.

The Sukuk that was listed on 19th April 2021 reinforces Dubai’s position as one of the largest centres for Sukuk listings globally, attracting both local and international issuers, with a total listed value now standing at $74.66 billion.