Nasdaq Dubai welcomed the listing today of a 300 million US dollar Sukuk issued by Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE.
The issuance was a tap on a one billion US dollar Sukuk that listed on Nasdaq Dubai on June 16th, 2020. DIB earmarked the funds raised to support its customers and the business community as economies start to overcome challenging market conditions.
DIB is the leading UAE-based Sukuk issuer by value on the region’s international exchange with a total of 6.3 billion US dollars including the latest 300 million US dollar listing.
Dubai is one of the largest centres for Sukuk listings in the world with a total listed value now standing at 71.09 billion US dollars. By value 43% of the listings are from UAE issuers and 57% from overseas issuers.