• This listing drives the total value of outstanding Sukuk on Nasdaq Dubai past the USD 100 billion mark

Dubai: Nasdaq Dubai welcomed the successful listing of Emirates Islamic’s USD 500 million Sustainability-Linked Financing Sukuk, marking the world's first Sukuk issuance of its kind.

Issued under Emirates Islamic’s USD 4 billion Sukuk Programme, the landmark Sukuk underscores the bank’s leadership in sustainable Islamic finance and its role in advancing the UAE’s sustainability agenda.

The Sukuk attracted strong international investor demand, highlighting the increasing appeal of sustainable Islamic finance, with orders reaching USD 1.2 billion, an oversubscription of 2.4 times. This enabled the bank to tighten the profit rate to 4.540% per annum, at a spread of 95 basis points over 5-year US Treasuries.

To mark the successful listing, Hesham Abdulla Al Qassim, Chairman of Emirates Islamic and Vice Chairman and Managing Director of Emirates NBD, rang the bell at Nasdaq Dubai’s market-opening ceremony alongside Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM).

Hesham Abdulla Al Qassim, Chairman, Emirates Islamic and Vice Chairman and Managing Director of Emirates NBD, said: "The listing of our pioneering Sustainability-Linked Financing Sukuk on Nasdaq Dubai underscores Emirates Islamic’s financial strength and our commitment to achieving the UAE’s Net Zero 2050 ambitions. This landmark transaction, a global first, demonstrates our ability to deliver advanced, Shari’ah-compliant solutions that resonate with a diverse international investor base, reflecting the growing appetite for sustainable Islamic finance.”

Hamed Ali, CEO of Nasdaq Dubai and DFM, added: "The listing of Emirates Islamic’s USD 500 million Sustainability-Linked Financing Sukuk represents a landmark moment for Nasdaq Dubai and the wider Islamic finance industry. It highlights Dubai’s growing role as a leading global hub for Islamic and sustainable capital markets, while reinforcing our commitment to providing issuers and investors with innovative financing solutions that support the UAE’s long-term economic development and climate ambitions."

Following this listing, Emirates Islamic Sukuk's total outstanding listings on Nasdaq Dubai have reached USD 2.77 billion. This brings the total value of all outstanding Sukuk listed on the exchange to over USD 100 billion, further cementing Nasdaq Dubai's position as a leading global hub for Islamic fixed-income products.

As a premier platform for both fixed income and ESG instruments, Nasdaq Dubai now hosts USD 140 billion in fixed income and USD 28.7 billion in ESG listings, including USD 1.55 billion in sustainability-linked issuances.

About Emirates Islamic:

Emirates Islamic (DFM: EIB), part of Emirates NBD Group, is a leading Islamic financial institution in the UAE. Established in 2004 as Emirates Islamic Bank, the bank has established itself as a major player in the highly competitive financial services sector in the UAE. 

Emirates Islamic offers a comprehensive range of Shariah-compliant products and services across the Personal, Business and Corporate banking spectrum with a network of 40 branches and 229 ATMs/CDMs across the UAE. In the fast-growing area of online and mobile banking, the bank is an innovator, being the first Islamic bank in the UAE to launch a mobile banking app and offer Apple Pay, as well as being the first Islamic bank in the world to launch Chat Banking services for customers via WhatsApp. 

Emirates Islamic has consistently received local and international awards, in recognition of its strong record of performance and innovation in banking. Emirates Islamic was recognized as ‘Best Overall Islamic Bank’ and ‘Most Innovative Islamic Bank’ at the Islamic Finance News Awards 2024. The Bank was also named the ‘Most Innovative Islamic Bank’ at the prestigious Euromoney Islamic Finance Awards 2024.

As part of its commitment to the UAE community, the Emirates Islamic Charity Fund provides financial aid to those in need, with a focus on food, shelter, health, education and social welfare contributions.

For further information please visit www.emiratesislamic.ae

Or please contact:
Amina Al Zarooni
Media Relations Manager, Emirates Islamic
Email: AminaAlZarooni@emiratesislamic.ae

Burson
Dubai, UAE
Email: ei@bm.com

About Nasdaq Dubai:  

Nasdaq Dubai is the international financial exchange serving the region between Western Europe and East Asia. It welcomes regional as well as global issuers that seek regional and international investment. The exchange currently lists shares, derivatives, Sukuk (Islamic bonds), conventional bonds and Real Estate Investment Trusts (REITS). The majority shareholder of Nasdaq Dubai is Dubai Financial Market with a two-thirds stake. Borse Dubai owns one third of the shares. The regulator of Nasdaq Dubai is the Dubai Financial Services Authority (DFSA).

For further information, please contact:
Noora Al Soori
Communications and Public Relations
Dubai Financial Market
E: nalsoori@dfm.ae

Shruti Choudhury                                                                                                   
Associate Director                                                             
Edelman Smithfield
E: dfmedelmansmithfield@edelman.com