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Sun 17 Apr 2016 06:22 PM

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Dubai Islamic Bank lists $500m sukuk on Nasdaq Dubai

Bank’s sukuk listings on Nasdaq Dubai now total $3.25 billion

Dubai Islamic Bank lists $500m sukuk on Nasdaq Dubai

Dubai Islamic Bank (DIB) has listed its latest sukuk worth $500
million on Nasdaq Dubai, bringing the bank’s total sukuk listings on the
region’s international exchange to $3.25 billion.

Following a total of seven sukuk listings this year by
regional and international issuers, the total value of sukuk currently listed
in Dubai has reached $42.61 billion, the largest amount of any listing centre
in the world, underlining the rapid expansion of Dubai as a global capital of
the Islamic Economy.

“Given the challenging market conditions, it was critical to
have a strong credit come in and successfully close a deal,” said Dr Adnan
Chilwan, group CEO, DIB. “As such, this transaction effectively marks the
re-opening of the GCC financial sector debt capital markets after a hiatus of
four months.

"Nasdaq Dubai provides us with both a well-regulated listing
framework and excellent links to investors in our own region and globally as we
continue to expand the scope of our investor base in the capital markets
arena.”

DIB previously listed a sukuk in 2013 and two in 2015.

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