Nasdaq Dubai has welcomed the listing of additional Tier 1 (AT1) Sukuk worth $500 million issued by Sharjah Islamic Bank. These perpetual instruments, which cannot be redeemed in the first six years, were issued by SIB Tier 1 Sukuk IIND Ltd and comply with Basel III requirements. The Sukuk generated strong interest from both regional and international investors, providing the bank with additional capital to support its long-term growth strategies.
With this listing, the total value of Sukuk listed by Sharjah Islamic Bank on Nasdaq Dubai rises to $2.5 billion across five issuances, reinforcing Dubai’s strategic role in developing Islamic capital markets.
To celebrate the listing, Ahmed Saad, the Deputy CEO of Sharjah Islamic Bank, rang the opening bell at Nasdaq Dubai, alongside Hamed Ali, the CEO of Nasdaq Dubai and Dubai Financial Market.
Ahmed Saad stated, “The listing of the $500 million perpetual capital Sukuk on Nasdaq Dubai is a strategic move that enhances Sharjah Islamic Bank’s position as a leading financial institution, trusted by both local and international investors. This issuance supports our long-term growth plans and strengthens our capital base according to Basel III requirements, solidifying our financial position. We value our ongoing partnership with Nasdaq Dubai, a premier platform providing a comprehensive gateway to global markets and fostering an attractive environment for capital influx. This listing underscores our commitment to supporting the UAE’s efforts in establishing a global hub for Islamic finance and actively contributing to the sector’s growth and sustainability.”
Hamed Ali expressed, “This listing is a significant step that goes beyond capital raising, reflecting a broader shift led by regional institutions like Sharjah Islamic Bank towards developing and diversifying local debt markets. As the demand for diverse Sharia-compliant investment instruments grows, Nasdaq Dubai continues to establish itself as a trusted innovation hub in the Islamic finance sector. The ongoing momentum in Sukuk issuances is clear evidence of the financial ecosystem’s maturity, combining local aspirations with global capital flows. Our sustained relationship with Sharjah Islamic Bank highlights the strategic role financial institutions play in building robust capital markets that adapt to future changes in the UAE and beyond.”
Following this listing, the total value of Sukuk on Nasdaq Dubai has reached $95.7 billion, cementing its position as one of the largest global destinations for listing Sharia-compliant fixed income instruments.
The total debt market on Nasdaq Dubai has exceeded $136 billion, represented by 160 listings, reflecting growing international investor confidence in Dubai as a key destination that connects capital flows between the Middle East and the rest of the world.