Ahli United Bank (AUB) Kuwait recently held a market-opening bell to celebrate the listing of its $200 million sukuk on Nasdaq Dubai.

The listing underlines Dubai’s status as the global leader for Sukuk listings, with a total nominal value of $45.75 billion from issuers in the GCC and beyond. As the third Kuwait listing on Nasdaq Dubai, it also reflects the growing capital markets ties between Kuwait and the UAE.

Essa Kazim, governor of Dubai International Financial Centre (DIFC), secretary general of Dubai Islamic Economy Development Centre (DIEDC), and chairman of Dubai Financial Market (DFM), said: “Ahli United Bank Kuwait’s decision to list its Sukuk in Dubai reinforces the traditional financial ties between Kuwait and the UAE, which play an important role in regional economic cooperation and prosperity. The Sukuk strengthens the growth of Dubai as the global capital of the Islamic Economy.”

Richard Groves, CEO of Ahli United Bank Kuwait who rang the market-opening bell, said, “AUB Kuwait’s Sukuk has achieved considerable success, reflecting the Bank’s position as a leading Islamic financial institution in Kuwait. With strong demand from investors in the Middle East, Asia and Europe, the Sukuk was more than three times oversubscribed, reflecting the confidence the market has in the issuance and in the economic climate in Kuwait, and in the region. Nasdaq Dubai’s platform strengthens our links with a wide range of regional and international markets in a respected listing environment regulated to international standards.” – TradeArabia News Service