"Islamic Emirates" Sustainable financing instruments are included in Nasdaq Dubai
Dubai, October 8 / WAM / Nasdaq Dubai welcomed the inclusion of Emirates Islamic Bank of Finance associated with sustainability of $ 500 million, which is the first version of its kind globally.
The version comes within the “Islamic Islamic” Sukuk program, which is worth $ 4 billion, in a move confirming the bank’s role in sustainable Islamic financing and supporting the national sustainability agenda of the United Arab Emirates.
The offering of the sukuk attracted a wide turnout from international investors, which reflects the increasing growth on the attractiveness of sustainable Islamic financing products, and subscription demands amounted to $ 1.2 billion, exceeding 2.4 times the supply of the offer.
This demand has contributed to reducing the margin of the return to 95 basis points above the return of US Treasury bonds for 5 years, with an annual return of 4.540%.
In celebration of this successful list, Hisham Abdullah Al -Qasim, Chairman of the Emirates Islamic Vice -Chairman, Director of the Emirates NBD group, and Hamed Ali, CEO of Nasdak Dubai and Dubai Financial Market, participated in the market opening bell.
Hisham Abdullah Al -Qasim said that the inclusion of our pioneering silence associated with sustainability in Nasdaq Dubai reflects our financial strength and our commitment to achieving the UAE’s ambitions towards climate neutrality by 2050, and this unique version of its kind represents our ability to provide advanced solutions compatible with the provisions and principles of Islamic Sharia, and meets the aspirations of a wide and varied base of international investors, in light of the increasing demand for Islamic financing tools Sustainable.
In turn, Hamed Ali said that the inclusion of the Emirates Islamic Sukuk associated with sustainability of $ 500 million represents a historical moment for Dubai and the global Islamic financing sector, and this step confirms Dubai’s position as a leading center for Islamic capital markets, and enhances our commitment to providing innovative financing solutions that support long -term economic development and climatic aspirations of the United Arab Emirates.
Based on this listing, the total value of the current bonds of the “Islamic Emirates” in NASDAC Dubai increased to $ 2.77 billion, increasing the total value of the sukuk listed on the stock exchange to more than $ 100 billion, which strengthens its position as a leading global center for Islamic fixed income tools.
NASDAC Dubai hosts $ 140 billion in the fixed income category, and 28.7 billion dollars in the category of governance, environment and sustainability, of which $ 1.55 billion in sustainable issues.
- For more: Follow Khaleejion 24 Arabic, Khaleejion 24 English, Khaleejion 24 Live, and for social media follow us on Facebook and Twitter
