DUBAI, (Pakistan Point News - 16th Nov, 2021) Salah Mohammed Amin, CEO of Emirates Islamic, one of the leading Islamic financial institutions in the UAE, today rang the market-opening bell to celebrate the listing of a US$ 500 million Sukuk issued by Emirates Islamic on Nasdaq Dubai, in the presence of Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM).
The 5 years’ benchmark issuance rated A+ by Fitch Ratings was priced at 2.082% and was 2.4 times oversubscribed, which underlines investors’ confidence in Emirates Islamic’s prospects.
Salah Mohammed Amin, CEO of Emirates Islamic, said: "We are pleased with regional and international investors’ strong appetite towards our issuances as a clear indication of their deep confidence in the bank’s sound fundamentals, growth strategy and ability to reinforce and sustain growth. We would like to extend our sincere thanks to Nasdaq Dubai for its dynamic role in creating a world-class marketplace that cements our links with investors across the world."
"This issuance will further support Emirates Islamic’s business expansion plans and growth agenda as we seek to continue to be an active contributor towards UAE’s economic growth. Emirates Islamic is committed to support UAE’s agenda in becoming a role model in addressing global challenges," Salah Mohammed Amin added.
From his side, Hamed Ali, CEO of Nasdaq Dubai and DFM, said: "As part of its active role to support leading issuers from the UAE and beyond, Nasdaq Dubai, the international financial exchange in the region, is delighted to welcome the new Sukuk issuance from Emirates Islamic. The successful issuance and listing of this Sukuk is testament on the confidence of fixed income investors in general and Sukuk investors in particular on the constructive regulatory framework of Nasdaq Dubai. We are committed to further expanding our services in line with the requirements of issuers and investors enabling issuers to raise necessary funds to implement growth strategies as well as to diversify investment opportunities."
The Emirates Islamic’s Sukuk was listed on Nasdaq Dubai on 2 November 2021, bringing the bank’s current Sukuk value on the exchange to US$ one billion through two issuances. It also strengthens Dubai capital markets status amongst the leading Sukuk listing venues globally with a total value of US$ 80.5 billion.