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Nasdaq Dubai today welcomed the listing of $500 million sukuk by the Sharjah Islamic Bank, the third listing by the Emirati lender on the region’s international exchange.
The new sukuk is SIB’s third listing on Nasdaq Dubai following two Sukuk listings of US$500 million each by the bank in 2015 and 2016, said a statement from the bank.
The listing supports the continuing expansion of SIB’s Sharia’a-compliant financial activities through its networks across the country including personal and corporate banking as well as investment banking and international services, on behalf of individual and institutional clients, it stated.
CEO Mohammed Abdulla said: "The strong investor interest from the Middle East, Europe and Asia in our latest sukuk demonstrates continuing regional and international confidence in SIB credit as we develop and expand our suite of services for a wide range of customers."
"We were able to achieve our pricing objectives as well as funding diversification strategies in a competitive market for issuers. Our listing on Nasdaq Dubai, as the region’s international exchange and globally leading venue for sukuk listings, supports our international visibility well as providing first class regulatory standards," he added.
Nasdaq Dubai Chairman Abdul Wahed Al Fahim said: "SIB’s listing adds further momentum to the successful initiative to position Dubai as the global Capital of the Islamic Economy, launched in 2013 by HH Sheikh Mohammed bin Rashid Al Maktoum, the Vice President, Prime Minister and Ruler of Dubai."
"Dubai looks forward to welcoming many more regional and international Sukuk issuances from private and public issuers as the sector continues to expand as an effective vehicle for raising capital," he added.-
Sharjah Islamic Bank (SIB) on Sunday reported Dh283 million net profit for the first half 2018 compared to Dh272.9 million in the same period last year. Net operating income reached Dh524.2 million f
Sharjah Islamic Bank (SIB) on Sunday reported a net profit of Dh143.1 million for the first quarter 2018, up 3 per cent compared to Dh139.1 million in the same period last year.
United Arab Emirates’ Sharjah Islamic Bank has launched $500 million (Dh1.8 billion) sukuk with a spread set at 150 basis points over mid-swaps, a document from one of the banks leading the deal show
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