Sharjah Islamic Bank (SIB) has strengthened its capital position with the successful listing of an AED 1 billion ($500 million) Additional Tier 1 (AT1) Sukuk on Nasdaq Dubai. Structured as perpetual, non-callable for six years, the AT1 capital instruments were issued under Basel III-compliant standards through SIB Tier 1 Sukuk IIND Ltd.
This most recent transaction marks the 5th listing by the Bank on Nasdaq Dubai, raising its total listed value on the exchange to AED 9.1 billion ($2.5 billion). The latest issuance drew robust demand from both regional and global investors, underscoring confidence in SIB’s long-term strategy and financial health.
To celebrate the milestone, Ahmed Saad, Deputy CEO of Sharjah Islamic Bank, rang the market-opening bell at Nasdaq Dubai and said: “The successful listing of our $500 million perpetual Additional Tier 1 Sukuk on Nasdaq Dubai marks a significant milestone in Sharjah Islamic Bank’s strategic growth journey. This issuance reflects our strong fundamentals, robust investor confidence, and commitment to maintaining a solid capital base in line with Basel III requirements.
“We are proud to deepen our relationship with Nasdaq Dubai, a platform that continues to champion innovation and global best practices in Islamic finance. As we expand our presence in international markets, we remain committed to contributing to the sustainable development of the UAE’s financial sector and the broader Islamic capital market ecosystem.”
Additionally, Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market, stated: “This listing reflects more than capital raising—it’s part of a broader shift as regional institutions like Sharjah Islamic Bank lead the deepening of local debt markets. As demand for diversified, Shariah-compliant instruments continues to grow, Nasdaq Dubai is proud to serve as a trusted platform for innovation in Islamic finance.
“The momentum we are seeing in Sukuk issuances signals a maturing financial ecosystem where local ambition meets global capital flows. SIB’s continued engagement underscores the strategic role financial institutions play in building resilient, forward-looking capital markets across the UAE and beyond.”
Nasdaq Dubai now hosts a total of AED 351.5 billion ($95.7 billion) in listed Sukuk, reinforcing its status as one of the largest platforms for Islamic fixed-income instruments globally. The broader debt capital market on the exchange has surpassed AED499.5 billion ($136 billion) across 160 listings, reflecting Dubai’s strategic position as a bridge for capital between the Middle East and global markets.
