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Wed 18 Apr 2018 03:27 PM

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Sharjah bank, Damac list sukuk worth $900m on Nasdaq Dubai

Latest listings bring the total value of all sukuk listed in Dubai to $59.22bn

Sharjah bank, Damac list sukuk worth $900m on Nasdaq Dubai

Nasdaq Dubai on Wednesday welcomed the listing of two sukuk by UAE issuers Sharjah Islamic Bank (SIB) and Damac Properties.

Sharjah Islamic Bank listed a $500 million sukuk, while real estate developer Damac listed a $400 million instrument, a statement said.

It added that two other sukuk issued by SIB are currently admitted to trading on Nasdaq Dubai.

They are both $500 million issuances that listed in 2015 and 2016. Damac’s other sukuk listed on Nasdaq Dubai comprise issuances of $650 million and $500 million in 2014 and 2017 respectively.

The latest listings by SIB and Damac bring the total value of all sukuk listed in Dubai to $59.22 billion, strengthening the emirate’s role as the leading global centre for sukuk listings by value.