Nasdaq Dubai welcomed the listing today of two Sukuk by UAE issuers. Sharjah Islamic Bank (SIB), one of the UAE’s most prominent Islamic financial institutions, listed a 500 million US dollar Sukuk, and DAMAC Properties, one of the region’s leading real estate developers, listed a 400 million US dollar instrument.
SIB supplies a broad range of Sharia'a-compliant retail, corporate and investment services through its networks across the country, including asset management and international banking, serving individual and institutional clients.
DAMAC Properties delivers residential, commercial and leisure properties across the region, including the UAE, Saudi Arabia, Qatar, Jordan, Lebanon and Oman as well as the United Kingdom.
Two other Sukuk issued by SIB are currently admitted to trading on Nasdaq Dubai.
These are both 500 million US dollar issuances that listed in 2015 and 2016. DAMAC Properties’ other Sukuk listed on Nasdaq Dubai comprise issuances of 650 million US dollars and 500 million US dollars in 2014 and 2017 respectively.
The latest listings by SIB and DAMAC Properties bring the total value of all Sukuk listed in Dubai to 59.22 billion US dollars, strengthening the Emirate’s role as the leading global centre for Sukuk listings by value.
