Nasdaq Dubai welcomes listing of $750 million sukuk by Dubai Islamic Bank

The five-year new sukuk issuance is part of DIB’s $7.5 billion sukuk programme.

The UAE’s first sukuk issuance in 2022 has been priced at a profit rate of 2.74 per cent per annum, 95 basis points over the five-year US Treasury representing the lowest-ever credit spread on any of DIB’s fixed-rate senior sukuk issuances.

The issuance was oversubscribed by more than 2.5 times in a clear testament on the bank’s strong credit profile and attractiveness to international and regional fixed-income investors.