Media ININ Economy We Trust
06-05-2019 Media in\ Dubai
Dubai Islamic Bank (DIB) today announced the listing of US $ 750 million Sukuk in NASDAQ Dubai. The sukuk issue was oversubscribed 4.9 times and at a profit rate of 6.25 per cent per annum.
Sukuk investors outside the Middle East accounted for nearly 40 percent.
Investors accounted for 62 per cent of the Middle East, 19 per cent of Europe, 18 per cent of Asia and 1 per cent of the United States. The total value of Sukuk listed on the Dubai bourses currently stands at $ 61.14 billion, the world.
Dubai Islamic Bank is the UAE’s leading sukuk issuer by value on NASDAQ Dubai with a total value of US $ 6 billion and includes seven Sukuks including the recent listing.
Dr. Adnan Shalwan, Chief Executive Officer of Dubai Islamic Bank, said: “The high subscription rate on the recently listed Dubai Islamic Bank (DIB) Sukuk demonstrates the confidence of major international investors in the Bank’s performance and strategy. We are delighted to achieve the lowest price of 6.25% Which is in line with the UAE’s new guidelines on capital, noting that their listing on NASDAQ Dubai provides a well regulated platform for their issuance and is closely linked to regional and international investors.
Chairman of NASDAQ Dubai, Abdul Wahid Al Fahim, said that their successful collaboration with Dubai Islamic Bank is a strong example of Dubai’s leading role in Islamic finance, stressing their commitment to supporting Dubai’s growth as the global capital of the Islamic economy.
