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.For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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