Sharjah Islamic Bank (SIB) announced the successful completion of the sale of all its treasury shares, totalling 167.67 million shares, equivalent to 5.18 per cent of its total share capital.
The transaction followed the release of SIB’s third-quarter financial results and generated strong investor interest, reflecting increasing confidence in the Bank’s solid performance and stable financial standing.
Mohamed Abdalla, CEO of Sharjah Islamic Bank, highlighted that the strong investor demand demonstrates trust in the Bank’s financial resilience and sustainable growth strategy. He added that the Bank’s positive third-quarter results emphasise operational efficiency and continued ability to deliver strong shareholder returns, reinforcing its leadership in the Islamic banking sector.
Abdalla further stated that the move aligns with the Bank’s broader objective to diversify its shareholder base, boost share liquidity and trading activity, and consolidate its position as a leading player in the Islamic banking industry locally and regionally.
