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Nasdaq Dubai celebrated the listing of a $500 million sukuk issued by Sharjah Islamic Bank through SIB Sukuk Company III Limited on October 29, 2026, with a market opening bell ringing ceremony at the exchange. Ahmed Saad Ibrahim, deputy chief executive officer of Sharjah Islamic Bank, performed the ceremonial ring in the presence of Hamed Ali, chief executive of Nasdaq Dubai and Dubai Financial Market. The Emirates News Agency reported that the five-year instrument drew orders totaling $1.3 billion, reflecting robust demand that exceeded the issuance size by a factor of 2.6.
The senior unsecured sukuk carries a profit rate of 5.85 percent and matures in September 2031, according to details released by the exchange. It was priced at a spread of 105 basis points over five-year US Treasuries and received an A- rating from S&P Global Ratings. The instrument is dual-listed on Nasdaq Dubai and Euronext Dublin, extending its reach to a broader pool of international investors.
Sharjah Islamic Bank has now listed 11 sukuk issuances totaling $5.5 billion on Nasdaq Dubai across both programme and standalone offerings, the Emirates News Agency stated. This latest transaction adds to the bank’s consistent engagement with the exchange over the past two decades. SIB first entered international capital markets with a sukuk issuance in 2006 and has maintained an active presence since then.
With this addition, the total value of outstanding sukuk listed on Nasdaq Dubai stands at $98.2 billion, within an overall debt listings total of $144.6 billion, according to figures published by the exchange. Nasdaq Dubai has positioned itself as a key venue connecting UAE issuers with global capital pools for Sharia-compliant instruments. The platform’s infrastructure supports both regional banks and international participants seeking diversified funding sources.
Ibrahim said, “The success of this issuance and the strong demand it attracted demonstrate investors’ confidence in the Bank’s financial strength, performance and clear strategy.” He added that the listing supports the diversification of the bank’s funding sources and strengthens its ability to seize growth opportunities and meet customers’ evolving needs. The deputy CEO noted that the transaction affirms the bank’s standing in international capital markets while reflecting confidence in the UAE economy’s strength and growth prospects.
Ali said, “SIB has accessed international capital markets with consistency across two decades, and this listing adds to a long-standing relationship with Nasdaq Dubai.” The CEO explained that when leading UAE financial institutions raise long-term funding to support growth at home, investors across the region and internationally gain access to Sharia-compliant assets linked to the UAE economy. A Moody’s Ratings assessment projected global sukuk issuance to reach around $280 billion for full-year 2026, in line with the previous year’s levels despite regional geopolitical uncertainties.
