NASDAQ Dubai has welcomed the listing of Emirates Islamic Bank’s debut global sustainability-linked sukuk, amounting to USD 500 million.
These sukuk were issued under the bank’s sukuk program with a total value of USD 4 billion, reinforcing the institution’s leadership in sustainable Islamic financing and its support for the UAE’s national sustainability agenda.
The sukuk offering received significant interest from international investors, reflecting the growing appeal of sustainable Islamic finance products, with subscription requests reaching USD 1.2 billion, surpassing the initial offer by 2.4 times.
This demand helped lower the yield margin to 95 basis points above the yield of US Treasury bonds with five-year maturities, yielding an annual return of 4.540%.
In celebration of this successful listing, Hisham Abdulla Al Qassim, Chairman of Emirates Islamic Bank and Vice Chairman and Managing Director of Emirates NBD Group, alongside Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market, participated in ringing the market opening bell.
Hisham Al Qassim stated, “Our listing on Nasdaq Dubai underscores our financial strength and commitment to fulfilling the UAE’s ambitions for climate neutrality by 2050. This unique issuance demonstrates our capability to provide innovative solutions that comply with Sharia principles.”
Hamed Ali added, “This listing marks a historic moment for Nasdaq Dubai and the global Islamic finance sector. It affirms Dubai’s position as a leading hub for Islamic and sustainable capital markets.”
With this listing, the total value of Emirates Islamic Bank’s sukuk on Nasdaq Dubai rises to USD 2.77 billion, and the total value of listed sukuk on the exchange exceeds USD 100 billion.