Nasdaq Dubai welcomes listing of US$750 million Sukuk by Dubai Islamic Bank

By Alan Peterson

Published: February 15, 2022 | 9:34 AM GMT

Nasdaq Dubai welcomes listing of US$750 million Sukuk by Dubai Islamic Bank
DUBAI, 15th February, 2022 – Nasdaq Dubai today welcomed the listing of a US$750 million Sukuk by Dubai Islamic Bank (DIB).

The 5-year new Sukuk issuance is part of DIB’s US$7.

5 billion Sukuk Programme.

The UAE’s first Sukuk issuance in 2022 has been priced at a profit rate of 2.

74 percent per annum, 95 basis points over the 5 year US Treasury representing the lowest-ever credit spread on any of DIB’s fixed-rate senior Sukuk issuances.

The issuance was oversubscribed by more than 2.

5 times in a clear testament on the bank’s strong credit profile and attractiveness to international and regional fixed-income investors.

The new listing strengthens Dubai capital markets’ status amongst the leading Sukuk listing venues globally with a total value of US$79.

19 billion.

Business News

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Alan Peterson is a talented writer who creates engaging and informative content for TDPel Media. With a keen eye for detail and a passion for storytelling, Alan has established himself as a respected authority in his field. He is a dedicated professional who is committed to providing readers with accurate and up-to-date news and information. Alan’s ability to distill complex ideas into easily digestible pieces has earned him a loyal following among TDPel Media’s readers. In addition to his writing work, Alan is an avid reader and enjoys exploring new topics to expand his knowledge and expertise. He lives in Scotlant, United Kingdom.