Dubai Islamic Bank lists $1bln sukuk on Nasdaq Dubai | ZAWYA MENA Edition

Dubai Islamic Bank lists $1bln sukuk on Nasdaq Dubai | ZAWYA MENA Edition:

"Dubai Islamic Bank (DIB), the largest Islamic Bank in the UAE, rang the market-opening bell today to celebrate the listing of a $1 billion Sukuk on Nasdaq Dubai. The Sukuk is the first benchmark dollar-denominated Sukuk from a GCC issuer in 2018 and provides significant support for the domestic and international growth strategy of DIB. It is DIB's sixth Sukuk on Nasdaq Dubai, making the bank the largest UAE debt issuer by value on the exchange with a total of $5.25 billion. The latest Sukuk, carrying a profit rate of 3.625 per cent with a five-year tenor, attracted investors from the Middle East, Europe, Asia and North America, including banks, sovereign wealth funds and fund managers. The collaboration between Nasdaq Dubai and DIB underlines Dubai's growth as the global Capital of the Islamic Economy."



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