Sharjah Islamic Bank (SIB) has reinforced its capital position through the successful issuance and listing of a $500 million (AED 1 billion) Additional Tier 1 (AT1) Sukuk on Nasdaq Dubai. Structured to comply with Basel III standards, the perpetual Sukuk is non-callable for six years and was issued through SIB Tier 1 Sukuk IIND Ltd.
This marks SIB’s fifth listing on Nasdaq Dubai, increasing the bank’s total listed value on the exchange to AED 9.1 billion ($2.5 billion). The latest offering drew strong demand from both regional and global investors, reflecting growing trust in SIB’s financial fundamentals and long-term strategic direction.
A Milestone in Islamic Finance and Market Expansion
To commemorate the listing, Ahmed Saad, Deputy CEO of Sharjah Islamic Bank, rang the market-opening bell at Nasdaq Dubai. He remarked:
“The successful listing of our $500 million perpetual Additional Tier 1 Sukuk on Nasdaq Dubai marks a significant milestone in Sharjah Islamic Bank’s strategic growth journey. This issuance reflects our strong fundamentals, robust investor confidence, and commitment to maintaining a solid capital base in line with Basel III requirements.
We are proud to deepen our relationship with Nasdaq Dubai, a platform that continues to champion innovation and global best practices in Islamic finance.”
The listing aligns with SIB’s objective of supporting the UAE’s financial development and enhancing its role in the Islamic capital market. It also signifies the bank’s expanding footprint across international markets.
Nasdaq Dubai’s Role in Building a Resilient Debt Ecosystem
Commenting on the occasion, Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market, said:
“This listing reflects more than capital raising—it’s part of a broader shift as regional institutions like Sharjah Islamic Bank lead the deepening of local debt markets.
As demand for diversified, Shariah-compliant instruments continues to grow, Nasdaq Dubai is proud to serve as a trusted platform for innovation in Islamic finance. The momentum we are seeing in Sukuk issuances signals a maturing financial ecosystem where local ambition meets global capital flows.”
Nasdaq Dubai currently hosts AED 351.5 billion ($95.7 billion) in listed Sukuk, making it one of the world’s leading platforms for Islamic fixed-income instruments. The broader debt capital market on the exchange has now exceeded AED 499.5 billion ($136 billion) across 160 listings, underscoring Dubai’s growing influence in global capital markets.
