Dubai – Mubasher: Nasdaq Dubai has welcomed the listing of $500 million sukuk by Noor Bank, a UAE-based leading Sharia-compliant bank.

The recent listing supports the bank's growth as an Islamic bank provides a variety of products and services, according to an official statement released on Wednesday.

“The streamlined issuance and listing of Noor Bank’s latest Sukuk demonstrates the strength and depth of expertise and commitment in Dubai to the Islamic bond sector,” DFM’s chairman Essa Kazim commented.

Noor Bank has arranged over $64 billion syndication and capital market transactions since 2008, the Dubai-listed bank revealed.

"This listing by a leading UAE financial services company provides further evidence of strong activity in the Sukuk sector, with 10 listings so far this year on Nasdaq Dubai from UAE and international issuers,” Nasdaq Dubai’s chairman Abdul Wahed Al Fahim said.

The total value of sukuk listings in Dubai reached $59.72 billion, reflecting the emirate’s role as a large global centre for Islamic bond listings.