Dubai (Al-Ittihad) Nasdaq Dubai welcomed the listing of an additional $ 500 million tier 1 sukuk issued by The Islamic Bank of Dubai.
These sukuk achieved the lowest profit rate achieved by a Gulf bank on an additional first-tier instrument, at a rate of 3.375%, and the underwriting coverage reached 5.6 times the target amount, with the order book peaking at $ 2.8 billion.
Dubai Islamic Bank is the UAE’s leading sukuk issuer in Nasdaq Dubai by value, with a total value of $ 6.3 billion, including this listing of $ 500 million.
These sukuk, which were listed on April 19, 2021, reinforce Dubai’s position as one of the world’s largest sukuk listing centers, attracting local and international issuers alike. The total value of Sukuk listed in Dubai has now reached $ 74.66 billion.
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