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Sharjah Islamic Banks lists $500m Sukuk on Nasdaq Dubai

Sharjah Islamic Banks lists $500m Sukuk on Nasdaq Dubai
The five-year Sukuk has attracted 150 investors
Sharjah Islamic Bank
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Abu Dhabi – Mubasher: Nasdaq Dubai has welcomed Sharjah Islamic Bank's listing of a $500 million Sukuk to support its activities and strategic development.

Oversubscribed 7.2 times, the five-year Sukuk has attracted 150 regional and international investors, according to a press release on Wednesday.

The $500 million Sukuk brings the total value of the bank's Sukuk listing on Nasdaq Dubai to $2 billion and Sukuk listed in Dubai to $69.29 billion.

The bank's CEO, Mohammed Abdulla, said: "The very positive response from the market to our latest Sukuk reflects investors’ strong belief in SIB’s strategy as we develop our activities across all our areas of business for a wide range of businesses and individual."

Meanwhile, the Chairman of Nasdaq Dubai, Abdul Wahed Al Fahim, commented: "We are delighted to welcome SIB as our eighth Sukuk listing so far this year and look forward to welcoming many more regional and international Islamic issuances during the course of 2020."