Dubai Islamic Bank lists $1bn sukuk on Nasdaq bourse

New listing takes DIB’s sukuk current listings on Nasdaq Dubai to $4.25bn, more than any other UAE issuer
Dubai Islamic Bank lists $1bn sukuk on Nasdaq bourse
(Getty Images)
By Staff writer
Wed 15 Feb 2017 01:58 PM

Nasdaq Dubai on Wednesday welcomed the listing of a $1 billion sukuk by Dubai Islamic Bank (DIB), the UAE’s largest Islamic bank, on the region’s international exchange.

It brings the total value of DIB’s sukuk current listings on Nasdaq Dubai to $4.25 billion, more than any other UAE issuer, a statement said.

DIB’s earlier sukuk listings comprise a $1 billion listing in 2013, two listings in 2015 respectively of $750 million and $1 billion, and a listing in 2016 of $500 million.

Nasdaq sais the newest DIB listing reinforces Dubai’s position as the world’s largest venue for sukuk listings by value, raising the total listed in the emirate to $47.81 billion.

Last month, Dubai Islamic Bank posted a 58.4 percent increase in fourth-quarter net profit.

The bank made 1.37 billion dirhams ($373 million) in the three months to December 31, according to Reuters calculations.

For all the latest market 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.

Subscribe to our Newsletter

Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.