Ajman Bank announced the listing of its $500 million senior sukuk issue on Nasdaq Dubai, marking the bank’s first sukuk issuance and debut listing on the international exchange.
Issued under the bank’s $1.5 billion Trust Certificate Issuance Programme, the sukuk attracted strong investor demand, achieving 5.4 times oversubscription.
The maiden sukuk issue from Ajman Bank garnered interest from over 100 global investors, the bank said.
The five-year issuance, maturing in 2030, underscores the growing appeal of Sharia-compliant instruments from UAE-based financial institutions, it said.
Mustafa Al Khalfawi, Chief Executive Officer, Ajman Bank, said this debut sukuk issuance marks a strategic milestone in Ajman Bank’s journey, aligned with its ongoing efforts to diversify the 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,” he said.
Hamed Ali, CEO of Nasdaq Dubai and DFM, said the debut listing of Ajman Bank’s sukuk issue reflects the dynamic momentum in the Islamic capital markets and reinforces Dubai’s position as a global centre for sukuk listings.
“We are proud to support Ajman Bank in this important milestone and look forward to deepening our collaboration in the future,” he said.
The bank joins a distinguished 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.
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