Nasdaq Dubai has welcomed a US$750 million sukuk listing from Dubai Islamic Bank (DIB).
The five year Islamic bond issuance is part of DIB’s $7.5 billion sukuk programme.
It has been priced at a profit rate of 2.74% per annum.
According to DIB, the issuance was oversubscribed by 2.5 times, which it claimed was “a clear testament to the bank’s strong credit profile and attractiveness to international and regional fixed-income investors”.
It is the UAE’s first sukuk issuance of 2022 and comes at a time when Dubai is looking to boost its status as a sukuk listing venue.
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