Nasdaq Dubai welcomed the listing on Tuesday of a $500 million sukuk by Noor Bank, a Sharia’a-compliant bank based in the UAE.
It is Noor Bank’s second sukuk to be hosted by the region’s international exchange, following a previous $500 million listing in 2016.
The Dubai-based bank’s latest sukuk issuance is a five-year instrument that was oversubscribed 2.1 times following an international roadshow, a statement said.
The bank’s listing underlines Dubai’s role as the leading global centre for sukuk listings by value, currently totalling $59.72 billion.
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