Nasdaq Dubai has announced the debut listing of Mashreq $500 million sukuk, issued by Mashreq Al Islami sukuk Company Ltd.
The Trust Certificates, which are set to mature in 2030, were issued under Mashreq’s $2.5 billion Trust Certificate Issuance Programme. This listing is a secondary admission following robust demand in the primary market.
This event signifies a pivotal moment for Mashreq as it broadens its access to international capital markets and enhances its presence within the Islamic finance sector. It also exemplifies Nasdaq Dubai’s ongoing commitment to linking regional issuers with a global investor community through a well-regulated and diverse platform.
Senior executives from Mashreq, including Ahmed Abdelaal, group chief executive officer; Joel Van Dusen, group head of Corporate & Investment Banking; and Salman Hadi, group head of Treasury & Global Markets, attended the market opening ceremony at Nasdaq Dubai to commemorate the listing. The ceremonial bell was rung by Ahmed Abdelaal in the presence of Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM).
Abdul Aziz Al Ghurair, chairman of Mashreq, remarked: “This sukuk listing marks an important step in Mashreq’s commitment to strengthening the global Islamic finance landscape. It is a clear demonstration of Mashreq’s long-term commitment to Islamic finance, the deepening of cross-border capital flows, and the UAE’s continued emergence as a global nexus for ethical and Sharia-compliant financing. Through this programme, we are proud to reinforce investor trust and contribute meaningfully to the maturing of Islamic capital markets.”
Read more: Mashreq successfully prices landmark $500 million debut sukuk
Commitment to Sharia-compliant funding
Ahmed Abdelaal, group chief executive officer, Mashreq, stated: “Our debut listing on Nasdaq Dubai marks a new chapter in Mashreq’s capital markets journey. This sukuk issuance not only attracted strong investor interest, but also affirms our disciplined approach to funding, even in a complex macro environment. As we continue to diversify our capital structure through Sharia-compliant channels, we remain committed to delivering strong fundamentals, market transparency, and sustainable value for all stakeholders.”
Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM), commented: “This listing reflects Mashreq’s growing ambitions in the Islamic finance sector and underscores our role as a leading marketplace that connects regional issuers with global investors. As Dubai continues to strengthen its capital markets infrastructure, we remain committed to providing an efficient and transparent platform that supports diverse financing needs and promotes sustainable growth across the financial ecosystem.”
Renewed confidence among investors
This landmark sukuk issuance signifies Mashreq’s successful return to the international debt capital markets. It also represents the first public issuance from the CEEMEA region since the announcement of U.S. tariffs in April 2025, which had instigated increased volatility across global markets. The success of this transaction renewed confidence among market participants and was followed by a series of issuances, thereby helping to reopen the market for regional issuers.
The transaction garnered substantial investor interest, resulting in an orderbook of $2.9 billion, nearly six times oversubscribed. The final pricing was adjusted to UST +105 basis points with a fixed profit rate of 5.03 percent per annum, reflecting the strength and quality of the orderbook and strong investor confidence in Mashreq’s credit fundamentals. Moreover, with broad participation from over 90 global investors spanning the Middle East, Europe, and Asia, the issuance reaffirms Mashreq’s leadership in Islamic finance and bolsters Dubai’s growing reputation as a global hub for Sharia-compliant capital markets.
Wth this listing, the total value of sukuk listed on Nasdaq Dubai has reached $97.2 billion, further enhancing the exchange’s status as one of the world’s largest centers for Islamic fixed income.
The overall value of debt securities listed on Nasdaq Dubai now exceeds $140 billion, across 163 issuances. These figures reflect the depth and maturity of the UAE’s capital markets, as well as the increasing allure of Dubai as a gateway for regional and international investment.
