Monday 21 January 2019

Nasdaq Dubai welcomes SIB, Damac sukuk listings

DUBAI, April 19, 2018

Nasdaq Dubai welcomed the listing yesterday (April 18) of two Sukuk by UAE issuers - Sharjah Islamic Bank (SIB), one of the UAE’s most prominent Islamic financial institutions and Damac Properties, a leading real estate developer.

SIB listed a $500 million Sukuk, and Damac listed a $400 million instrument.

SIB supplies a broad range of Sharia'a-compliant retail, corporate and investment services through its networks across the country, including asset management and international banking, serving individual and institutional clients.

Damac Properties delivers residential, commercial and leisure properties across the region, including the UAE, Saudi Arabia, Qatar, Jordan, Lebanon and Oman as well as the UK.

Two other Sukuk issued by SIB are currently admitted to trading on Nasdaq Dubai. These are both $500 million issuances that listed in 2015 and 2016. Damac Properties’ other Sukuk listed on Nasdaq Dubai comprise issuances of $650 million and $500 million in 2014 and 2017 respectively.

The latest listings by SIB and Damac Properties bring the total value of all Sukuk listed in Dubai to $59.22 billion, strengthening the Emirate’s role as the leading global centre for Sukuk listings by value. – TradeArabia News Service

Tags: Damac | sukuk | SIB | Nasdaq Dubai |

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