Dubai-Mubasher: Noor Bank listed $500 million debut Tier 1 sukuk on Nasdaq Dubai, according to a statement.

“It was the 11th Sukuk listing in Dubai this year, as well as the first perpetual Tier 1 Sukuk issued this year from the UAE,” Nasdaq Dubai said. 

The nominal value of listings in Dubai totalled $44.56 billion, reflecting the growth of Dubai as a centre for sukuk listings.

“Through this issuance, we will significantly boost our capital ratios to further support the future balance sheet growth of the Bank,” the bank’s CEO Hussain Al Qemzi noted.