Nasdaq Dubai welcomed the successful listing of Emirates Islamic Bank’s US$500 million Sustainability-Linked Financing Sukuk, marking the world’s first Sukuk of its kind. Issued under Emirates Islamic’s US$4 billion Sukuk Programme, the transaction underscores the bank’s leadership in sustainable Islamic finance and its commitment to advancing the UAE’s sustainability agenda.
The landmark Sukuk drew strong international investor demand, with total orders reaching US$1.2 billion, representing an oversubscription of 2.4 times. This allowed Emirates Islamic to tighten the profit rate to 4.540% per annum, at a spread of 95 basis points over 5-year US Treasuries.
Market Ceremony Highlights Leadership and Innovation
The listing was celebrated at Nasdaq Dubai’s market-opening ceremony, where Hesham Abdulla Al Qassim, Chairman of Emirates Islamic and Vice Chairman and Managing Director of Emirates NBD, rang the bell alongside Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM).
Hesham Abdulla Al Qassim said, “The listing of our pioneering Sustainability-Linked Financing Sukuk underscores Emirates Islamic’s financial strength and our commitment to achieving the UAE’s Net Zero 2050 ambitions. This global-first transaction demonstrates our ability to deliver advanced, Shari’ah-compliant solutions that appeal to a diverse international investor base, reflecting the growing appetite for sustainable Islamic finance.”
Hamed Ali added, “This landmark Sukuk highlights Dubai’s role as a global hub for Islamic and sustainable capital markets. It reinforces our commitment to providing issuers and investors with innovative financing solutions that support the UAE’s long-term economic development and climate ambitions.”
Expanding Nasdaq Dubai’s Islamic Finance Footprint
Following this listing, Emirates Islamic Sukuk’s total outstanding listings on Nasdaq Dubai reached US$2.77 billion, contributing to the exchange’s over US$100 billion in outstanding Sukuk.
Nasdaq Dubai now hosts US$140 billion in fixed-income listings and US$28.7 billion in ESG instruments, including US$1.55 billion in sustainability-linked issuances, cementing its position as a leading global hub for Islamic and sustainable finance.
