Dubai – Mubasher: The Nasdaq Dubai exchange has welcomed the listing of $500 million sukuk by Sharjah Islamic Bank (SIB).

The listing came as a part of the bank’s expansion across the UAE, according to a bourse statement released on Wednesday.

“The strong investor interest from the Middle East, Europe, and Asia in our latest Sukuk demonstrates continuing regional and international confidence in SIB credit as we develop and expand our suite of services for a wide range of customers,” SIB’s CEO Mohammed Abdulla commented.

The UAE-based SIB listed two $1 billion sukuk on the Nasdaq Dubai exchange in 2015 and 2016.

“Dubai looks forward to welcoming many more regional and international Sukuk issuances from private and public issuers as the sector continues to expand as an effective vehicle for raising capital,” Nasdaq Dubai’s chairman Abdul Wahed Al Fahim said.