Nasdaq Dubai welcomes listing of USD 500 million Sukuk by Dubai Islamic Bank
Nasdaq Dubai welcomes the listing of a 500 million US dollar perpetual Additional Tier 1 Sukuk, issued by the Dubai Islamic Bank (DIB), the largest Islamic Bank in the UAE.
The Sukuk achieved the lowest ever yield of 3.375% by a GCC bank on an Additional Tier 1 instrument and was 5.6 times oversubscribed with an order book that peaked at 2.8 billion US dollars. Dubai Islamic Bank is the leading UAE-based Sukuk issuer by value on Nasdaq Dubai with a total value of 6.3 billion US dollars including the latest USD 500 million US dollar listing.
The Sukuk that was listed on 19 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 US dollars.
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