Nasdaq Dubai Welcomes Emirates Islamic’s USD 500 Million Sustainability-Linked Financing Sukuk

Nasdaq Dubai welcomed the successful listing of Emirates Islamic’s USD 500 million Sustainability-Linked Financing Sukuk, marking the world's first Sukuk issuance of its kind.

Issued under Emirates Islamic’s USD 4 billion Sukuk Programme, the landmark Sukuk underscores the bank’s leadership in sustainable Islamic finance and its role in advancing the UAE’s sustainability agenda.

The Sukuk attracted strong international investor demand, highlighting the increasing appeal of sustainable Islamic finance, with orders reaching USD 1.2 billion, an oversubscription of 2.4 times. This enabled the bank to tighten the profit rate to 4.540% per annum, at a spread of 95 basis points over 5-year US Treasuries.

To mark the successful listing, Hesham Abdulla Al Qassim, Chairman of Emirates Islamic and Vice Chairman and Managing Director of Emirates NBD, rang the bell at Nasdaq Dubai’s market-opening ceremony alongside Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM).

Hesham Abdulla Al Qassim, Chairman, Emirates Islamic and Vice Chairman and Managing Director of Emirates NBD, said: "The listing of our pioneering Sustainability-Linked Financing Sukuk on Nasdaq Dubai underscores Emirates Islamic’s financial strength and our commitment to achieving the UAE’s Net Zero 2050 ambitions. This landmark transaction, a global first, demonstrates our ability to deliver advanced, Shari’ah-compliant solutions that resonate with a diverse international investor base, reflecting the growing appetite for sustainable Islamic finance.”

Hamed Ali, CEO of Nasdaq Dubai and DFM, added: "The listing of Emirates Islamic’s USD 500 million Sustainability-Linked Financing Sukuk represents a landmark moment for Nasdaq Dubai and the wider Islamic finance industry. It highlights Dubai’s growing role as a leading global hub for Islamic and sustainable capital markets, while reinforcing our commitment to providing issuers and investors with innovative financing solutions that support the UAE’s long-term economic development and climate ambitions."

Following this listing, Emirates Islamic Sukuk's total outstanding listings on Nasdaq Dubai have reached USD 2.77 billion. This brings the total value of all outstanding Sukuk listed on the exchange to over USD 100 billion, further cementing Nasdaq Dubai's position as a leading global hub for Islamic fixed-income products.

As a premier platform for both fixed income and ESG instruments, Nasdaq Dubai now hosts USD 140 billion in fixed income and USD 28.7 billion in ESG listings, including USD 1.55 billion in sustainability-linked issuances.