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ADIB raises AED 587m through new global Sukuk fund

ADIB raises AED 587m through new global Sukuk fund
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Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) has secured more than AED 587 million ($160 million) through its recently launched fund, the ADIB Global Sukuk Fund.

Launched in October 2021, the fund enables investors to invest in a diversified portfolio of regional and international Sukuk instruments, according to a press release on Thursday.

The fund focuses on the opportunities in the Shariah-compliant sovereign, quasi-sovereign, financial institutions, and corporate Sukuk, issued locally, regionally, and globally.

ADIB's Global Head of Wholesale Banking Groups, Michael Gregory Davis, said: "Our clients are particularly attracted to the Fund’s investment-grade average rating, low volatility, relatively short duration, the option for regular attractive quarterly income distribution as well as its daily liquidity."

Meanwhile, Davis added: "We believe the Fund’s compelling investment proposition will help us to grow the Fund further and to establish it as one of the leading global Sukuk funds in the market."