Nasdaq Dubai has welcomed the listing of a $500 million senior sukuk issued by Ajman Bank, marking the bank’s inaugural sukuk issuance and its debut on the international exchange. Issued under Ajman Bank’s $1.5 billion Trust Certificate Issuance Programme, the sukuk generated robust investor demand, achieving 5.4 times oversubscription and attracting interest from over 100 global investors.
This five-year issuance, maturing in 2030, highlights the increasing appeal of Sharia-compliant instruments from UAE-based financial institutions. Mustafa Al Khalfawi, chief executive officer of Ajman Bank, rang the market-opening bell at Nasdaq Dubai to celebrate the listing, alongside Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM).
Al Khalfawi stated, “This debut sukuk issuance marks a strategic milestone in Ajman Bank’s journey, aligned with our ongoing efforts to diversify our funding base and broaden investor access. The positive response from the global market reflects confidence in our financial performance and future outlook. Listing on Nasdaq Dubai reinforces our commitment to international standards of transparency and growth.”
This listing exemplifies the strong collaboration between Ajman Bank and Nasdaq Dubai in driving the development of Islamic capital markets.
Read more: Ajman Bank on course to achieve key milestones in ongoing transformation
Total sukuk value reaches $96.9 billion
Hamed Ali, CEO of Nasdaq Dubai and DFM, remarked, “We are pleased to welcome Ajman Bank to Nasdaq Dubai’s growing community of regional and global issuers. This debut listing reflects the dynamic momentum in the Islamic capital markets and reinforces Dubai’s position as a global center for sukuk listings. We are proud to support Ajman Bank in this important milestone and look forward to deepening our collaboration in the future.”
Ajman Bank joins a prestigious group of regional and international banks listed on the exchange, contributing to the $30.6 billion currently listed across 51 debt instruments by financial institutions on Nasdaq Dubai. With this listing, the total value of sukuk listed on Nasdaq Dubai has now reached $96.9 billion, while the overall value of debt instruments on the exchange exceeds $139 billion, reinforcing its standing as one of the leading global venues for Islamic fixed income products.
