Dubai: Nasdaq Dubai, the region’s international financial exchange, today welcomed the listing of a US$ 750 million Sukuk by Dubai Islamic Bank (DIB). The 5-year new Sukuk issuance is part of DIB’s US$ 7.5 billion Sukuk Program.

 The UAE’s first Sukuk issuance in 2022 has been priced at a profit rate of 2.74% per annum, 95 basis points over the 5 year US Treasury representing the lowest-ever credit spread on any of DIB’s fixed-rate senior Sukuk issuances.

The issuance was oversubscribed by more than 2.5 times in a clear testament on the bank’s strong credit profile and attractiveness to international and regional fixed-income investors.

The new listing strengthens Dubai capital markets’ status amongst the leading Sukuk listing venues globally with a total value of US$ 79.19 billion.

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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). Nasdaq Dubai is located in the Dubai International Financial Centre (DIFC).

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