Dubai: Dubai Islamic Bank (DIB) said it has listed $500 million (Dh1.836 billion) of sukuk on Nasdaq Dubai, bringing the banks total listing on the bourse to $3.25 billion.
DIB’s latest $500 million sukuk listed on the exchange on March 31. The bank had previously listed one sukuk in 2013 and two in 2015.
“This transaction effectively marks the re-opening of the GCC financial sector debt capital markets after a hiatus of four months. Nasdaq Dubai provides us with both a well-regulated listing framework and excellent links to investors in our own region and globally as we continue to expand the scope of our investor base in the capital markets arena,” Dr. Adnan Chilwan, Group Chief Executive Officer, DIB said in a statement.
Overall, following a total of seven sukuk listings this year by regional and international issuers, the total value of Sukuk currently listed in Dubai has reached $42.61 billion, the largest amount of any listing centre in the world.
“Through their location in the heart of the Muslim world, Dubai’s Islamic capital markets are uniquely placed to expand in all aspects including issuance and listing. DIB’s prominence in both activities reinforces Dubai’s status as the leading centre for Sukuk and its growth as the global Capital of the Islamic Economy,” Eisa Kazim, Governor of Dubai International Financial Centre (DIFC) and Secretary-General of Dubai Islamic Economy Development Centre (DIEDC), said.
Abdul Wahed Al Fahim, Chairman of Nasdaq Dubai also agreed with Kazim.
“As a pioneer of Islamic finance and pillar of Dubai’s growth and prosperity, DIB is a key issuer on Nasdaq Dubai. Through their close cooperation, a range of government and semi-government institutions in Dubai as well as private companies are underpinning the growth of the Sharia-compliant financial markets in the region and internationally,” Al Fahim said.
