Nasdaq Dubai Welcomes Sharjah Islamic Bank's $500 Million Sukuk Offering

Photo : Dubai Government Media Office

Nasdaq Dubai has officially listed a USD 500 million Sukuk issued by Sharjah Islamic Bank (SIB), marking the sixth issuance under the bank’s established USD 3 billion Trust Certificate Issuance Programme since 2013.

The Sukuk, set to mature in 2029, garnered significant interest from both global and regional investors, being oversubscribed three times over with orders totaling USD 1.5 billion. This strong demand underscores the attractiveness of the UAE’s vibrant capital market on a global scale. Including this latest issuance, SIB's total listings on Nasdaq Dubai now amount to USD 1.5 billion, encompassing two senior unsecured Sukuk and one Additional Tier 1 Capital Sukuk.

The total value of Sukuk listed on Nasdaq Dubai now reaches USD 93.89 billion, reinforcing its position as a leading global marketplace for Sukuk issuances. Combined with bonds, the total value of listed debt instruments on Nasdaq Dubai stands at USD 134.1 billion.

To commemorate the listing, HE Ahmed Saad Ibrahim, Deputy CEO of Sharjah Islamic Bank, rang the bell at Nasdaq Dubai's market-opening ceremony, accompanied by Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM).

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HE Ahmed Saad Ibrahim commented, "We are pleased with the successful listing of our latest Sukuk on Nasdaq Dubai, which attracted strong interest from international and regional investors. This reflects their confidence in SIB's strategic direction as we expand our operations and enhance our service offerings."

He added, "Our vision is to continue innovating and delivering exceptional financial services that meet the diverse needs of our clients. Our consistent success in the international capital markets underscores our strong management and commitment to sustainable growth, supported by our dedicated team and stakeholders."

Hamed Ali, CEO of Nasdaq Dubai and DFM, affirmed, "We are delighted to welcome Sharjah Islamic Bank's latest Sukuk issuance to Nasdaq Dubai. This listing underscores our role in providing a dynamic platform for Islamic finance. By facilitating such listings, Nasdaq Dubai continues to drive the growth and diversification of Islamic capital markets, offering issuers enhanced visibility and access to a broad investor base."

Sharjah Islamic Bank, an early pioneer in Sukuk issuance since 2006, has seen strong investor interest globally, reflecting confidence in the UAE banking sector. The bank currently has a USD 500 million Sukuk maturing in June 2025 and an Additional Tier 1 Capital Sukuk with a call date in July 2025, alongside the recently issued USD 500 million Sukuk maturing in July 2029.

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