Emirates Islamic Lists World’s First Sustainability Sukuk

Emirates Islamic has made a landmark move in the global finance market by listing its USD 500 million Sustainability-Linked Financing Sukuk on Nasdaq Dubai, marking the first Sukuk of its kind worldwide. The issuance signals a strong push toward sustainable Islamic finance and underscores the UAE’s commitment to advancing its sustainability and Net Zero 2050 goals.

Issued under Emirates Islamic’s USD 4 billion Sukuk Programme, the Sukuk drew robust international investor interest. Orders reached USD 1.2 billion, resulting in an oversubscription of 2.4 times. The strong demand allowed the bank to set a competitive profit rate of 4.540% per annum, with a spread of 95 basis points over 5-year US Treasuries.

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The successful listing was celebrated at Nasdaq Dubai’s market-opening ceremony, where Hesham Abdulla Al Qassim, Chairman of Emirates Islamic, rang the bell alongside Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market. This ceremonial event highlighted the growing significance of sustainable finance instruments in the UAE and the wider Gulf region.

With this issuance, Emirates Islamic’s total Sukuk listings on Nasdaq Dubai have reached USD 2.77 billion. The exchange now hosts over USD 100 billion in outstanding Sukuk, further cementing its role as a global hub for Islamic fixed-income products. Nasdaq Dubai also hosts USD 140 billion in fixed income and USD 28.7 billion in ESG-linked instruments, including USD 1.55 billion in sustainability-linked issuances.

The listing not only reinforces Emirates Islamic’s leadership in innovative, Shari’ah-compliant finance but also reflects the growing global appetite for financial products that blend profitability with environmental and social responsibility.