Dubai Islamic Bank Lists $500M Sukuk on Nasdaq Dubai

Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, has successfully listed a USD 500 million Sukuk on Nasdaq Dubai, showcasing the growing appeal of Islamic financial instruments. The additional Tier 1 (AT1) Sukuk, issued at a profit rate of 5.25% per annum, received substantial oversubscription, reflecting strong investor demand. The dual listing on Nasdaq Dubai and Euronext Dublin underscores DIB's leadership in global Islamic finance, providing additional capital to support its growth strategy.

Nasdaq Dubai, with this listing, further establishes its position as a leading global hub for Sukuk, now boasting USD 93 billion in outstanding Sukuk across 102 listings. The exchange's dedication to supporting Islamic finance and fixed-income products offers a robust platform for issuers and investors worldwide. The diverse range of investors attracted to this issuance, including financial institutions, private banks, and fund managers from Europe, Asia, and the Middle East, highlights the confidence in the UAE's financial market.

The market-opening ceremony at Nasdaq Dubai, attended by Saeed Wajdi, Chief of Treasury at DIB, and Hamed Ali, CEO of Nasdaq Dubai and DFM, marked the occasion. Dr. Adnan Chilwan, Group CEO of DIB, emphasized that the successful reception of the Sukuk listing signifies a robust endorsement of the UAE's economic resilience and future ambitions. This listing not only amplifies DIB's profile but also connects it with a broader spectrum of investors, utilizing Nasdaq Dubai's well-regulated platform to expand its global reach.

For potential investors, the listing of DIB's Sukuk on Nasdaq Dubai presents an opportunity to engage with a leading entity in Islamic finance. The robust demand and strategic positioning of DIB in the market suggest a 'hold' strategy for existing investors, while new investors may consider a 'buy' approach, given the bank's strong market presence and growth potential.