Sharjah24: On Tuesday, Dubai Nasdaq listed the $500 million Additional Tier 1 Sukuk issued by Sharjah Islamic Bank.
These perpetual sukuk, which cannot be redeemed before six years, were issued by the entity "SIB Tier 1 Sukuk IIND Ltd." They comply with Basel III requirements and saw strong demand from regional and international investors, providing the bank with additional capital to support its long-term growth plans.
With this listing, the total value of sukuk listed by Sharjah Islamic Bank on Dubai Nasdaq has risen to $2.5 billion through five listings, enhancing Dubai's strategic role in developing the Islamic capital markets ecosystem.
To celebrate the listing, Ahmed Saad, Deputy CEO of Sharjah Islamic Bank, rang the opening bell for the trading session at Dubai Nasdaq, alongside Hamed Ali, CEO of Dubai Nasdaq and Dubai Financial Market.
Ahmed Saad stated that the listing of the $500 million perpetual capital sukuk on Dubai Nasdaq is a strategic step that enhances Sharjah Islamic Bank's position as a leading financial institution trusted by investors both locally and internationally. He noted that this issuance supports their long-term growth plans and strengthens their capital base in line with Basel III requirements, solidifying their financial position.
He emphasized the importance of the ongoing partnership with Dubai Nasdaq, the leading platform that serves as a comprehensive window to global markets, providing a stimulating environment to attract capital. He mentioned that through this listing, Sharjah Islamic Bank reaffirms its commitment to supporting the UAE's efforts to establish itself as a global hub for Islamic finance and actively contribute to the growth and sustainability of this vital sector.
For his part, Hamed Ali, CEO of Dubai Nasdaq and Dubai Financial Market, confirmed that this listing is an important step that goes beyond capital raising, reflecting a comprehensive shift led by pioneering regional institutions like Sharjah Islamic Bank towards developing and diversifying local debt markets.
He clarified that as the demand for diverse investment instruments compliant with Islamic law continues to grow, Dubai Nasdaq is solidifying its position as a trusted center for innovation in the Islamic finance sector. The ongoing momentum in sukuk issuances serves as tangible evidence of the maturity of the financial ecosystem, which now bridges local aspirations with global capital flows.
He added that the continuous relationship with Sharjah Islamic Bank underscores the strategic role that financial institutions play in building robust capital markets that keep pace with future changes in the UAE and beyond.
With this listing, the total value of sukuk listed on Dubai Nasdaq reached $95.7 billion, reinforcing its position as one of the largest global destinations for listing Sharia-compliant fixed-income instruments.
The total debt instruments market on Dubai Nasdaq has surpassed $136 billion, distributed across 160 listings, reflecting the growing confidence of international investors in Dubai's status as a key destination connecting capital flows between the Middle East and the world.
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