IslamicFinance.de

Hesham Abdulla Al Qassim, Chairman of Emirates Islamic rang the market-opening bell to celebrate the listing by Emirates Islamic of a 500 million US dollar Sukuk on Nasdaq Dubai. The Bank achieved a profit rate of 1.827%, the lowest for a Sukuk issued by a UAE bank for 10 years, with subscription of 2.4 times. The issuance was rated A+ by Fitch Ratings. The nominal value of Sukuk currently listed in Dubai has reached 73.99 billion US dollars, one of the largest totals of any listing centre in the world. Following Emirates Islamic’s latest listing, 46% of Sukuk listings in Dubai by value are from UAE issuers and 54% from overseas issuers.