Dubai Islamic Bank marks $1bn sukuk listing

Dubai Islamic Bank marks $1bn sukuk listing
The new listing is deemed DIB’s sixth sukuk listing on Nasdaq Dubai
DIB DIB 1.54% 5.27 0.08

Dubai – Mubasher: Dubai Islamic Bank (DIB) has celebrated the listing of $1 billion sukuk on Nasdaq Dubai, the Emirati bourse said in a statement on Tuesday.

The new listing is deemed DIB’s sixth sukuk listing on Nasdaq Dubai, which makes the UAE-based bank the largest UAE’s debt issuer by value on the exchange with a total of $5.25 billion.  

“Nasdaq Dubai provides us with high visibility in the marketplace as well as close links to investors in the region and internationally,” DIB’s Group CEO Adnan Chilwan commented.

The latest listing, including five-year sukuk with a profit rate of 3.625%, attracted investors from the Middle East, Europe, Asia, and North America, Nasdaq Dubai revealed.

“The close collaboration between DIB and Nasdaq Dubai provides significant support for Dubai’s growth as the global capital of the Islamic economy,” Nasdaq Dubai’s chairman Abdul Wahed Al Fahim concluded.

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Source: Mubasher

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