Nasdaq Dubai has welcomed the listing of a USD500 million perpetual Additional Tier 1 Sukuk, issued by the Dubai Islamic Bank (DIB), the largest Islamic Bank in the UAE.
The Sukuk achieved the lowest ever yield of 3.375 per cent by a GCC bank on an Additional Tier 1 instrument and was 5.6 times oversubscribed with an order book that peaked at USD2.8 billion. Dubai Islamic Bank is the leading UAE-based Sukuk issuer by value on Nasdaq Dubai with a total value of USD6.3 billion including the latest USD500 million listing.
The Sukuk that was listed on 19 April 2021 reinforces Dubai’s position as one of the largest centres for Sukuk listings globally, attracting both local and international issuers, with a total listed value now standing at USD74.66 billion.
