logo
Nasdaq Dubai welcomes Mashreq's $500mln sukuk listing

Nasdaq Dubai welcomes Mashreq's $500mln sukuk listing

Zawya04-06-2025
The listing brings the total value of Sukuk on Nasdaq Dubai to USD 97.2 billion, reinforcing its status as a global centre for Islamic finance.
Dubai: Nasdaq Dubai welcomed Mashreq's (''Mashreq'' or ''the Bank'') debut listing on the exchange with the admission of a USD 500 million Sukuk issued by Mashreq Al Islami Sukuk Company Ltd.
The Trust Certificates, due in 2030, were issued under Mashreq's USD 2.5 billion Trust Certificate Issuance Programme and are being admitted as a secondary listing following strong demand in the primary market.
This marks an important milestone for Mashreq as it expands its access to international capital markets and strengthens its presence in the Islamic finance space. It also reflects Nasdaq Dubai's continued role in connecting regional issuers with a global investor base through a well-regulated and diversified platform.
Senior officials 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 celebrate the listing. The 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, commented: "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.'
Ahmed Abdelaal, Group Chief Executive Officer, Mashreq said: '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), said: '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.'
This landmark Sukuk issuance marked Mashreq's successful return to the international debt capital markets. It was also the first public issuance from the CEEMEA region since the announcement of U.S. tariffs in April 2025, which had triggered heightened volatility across global markets. The success of this transaction renewed market participants' confidence, and was followed by a string of issuances, thereby helping to reopen the market for regional issuers.
The transaction attracted significant investor interest, resulting in an orderbook of USD 2.9 billion, nearly six times oversubscribed. The final pricing was tightened to UST +105 basis points with a fixed profit rate of 5.03% per annum, reflecting the strength and quality of the orderbook and strong investor confidence in Mashreq's credit fundamentals. With broad participation from over 90 global investors across the Middle East, Europe and Asia, the issuance reaffirms Mashreq's leadership in Islamic finance and reinforces Dubai's growing stature as a global hub for Sharia-compliant capital markets.
With this listing, the total value of Sukuk listed on Nasdaq Dubai has reached USD 97.2 billion, further strengthening the exchange's position as one of the world's largest centres for Islamic fixed income.
The overall value of debt securities listed on Nasdaq Dubai now stands at over USD 140 billion, across 163 issuances. These figures reflect the depth and maturity of the UAE's capital markets, as well as the growing appeal of Dubai as a gateway for regional and international investment.
About Mashreq:
Mashreq is more than half a century old, yet proudly thinks like a challenger, startup, and innovator. Mashreq has pioneered key innovations and developments in banking, starting with entry-level digital-first customers all the way to powering some of the region's most prominent corporations and wealth accounts.
The bank's mandate is to help customers find their way to Rise Every Day, partnering through the highs and lows to help them achieve their goals and unlock their vision of success.
Reassuringly present in major financial centres of the world, Mashreq's home and global HQ remains in the Middle East, offering services whenever and wherever opportunity takes its customers. Mashreq has been recognized as the fastest-growing Middle East brand, by Banking 500 rankings for 2024 by Brand Finance.
Find your way to Rise Every Day at: www.Mashreq.com/RiseEveryDay
About Nasdaq Dubai:
Nasdaq Dubai is the international financial exchange serving the region between Western Europe and East Asia. It welcomes regional as well as global issuers that seek regional and international investment. The exchange currently lists shares, derivatives, Sukuk (Islamic bonds), conventional bonds and Real Estate Investment Trusts (REITS). The majority shareholder of Nasdaq Dubai is Dubai Financial Market with a two-thirds stake. Borse Dubai owns one third of the shares. The regulator of Nasdaq Dubai is the Dubai Financial Services Authority (DFSA).
For further information, please contact:
Noora Al Soori
Communications and Public Relations
Dubai Financial Market
E: nalsoori@dfm.ae
Shruti Choudhury
Associate Director
Edelman Smithfield
E: dfmedelmansmithfield@edelman.com
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Dubai Duty Free shatters sales records in 2025: What's driving the growth?
Dubai Duty Free shatters sales records in 2025: What's driving the growth?

Gulf Business

time21 minutes ago

  • Gulf Business

Dubai Duty Free shatters sales records in 2025: What's driving the growth?

Image credit: WAM/Website Dubai Duty Free has reported record-breaking sales for the first half of 2025, with turnover reaching Dhs4.118bn ($1.128bn)—a 5.34 per cent year-on-year increase. The figure exceeds the previous first-half record by Dhs208.95m ($57.24m), reinforcing the airport retailer's strong post-pandemic recovery. Read- The robust performance was driven by a surge in travel during the Eid holidays and the early summer season, which significantly boosted passenger traffic and retail spending across the airport, 'We are very pleased with our record performance for the first half of 2025,' said Ramesh Cidambi, Managing Director of Dubai Duty Free. 'While we await final passenger numbers for June, the spend per passenger is likely to be better than June last year. This performance is a testament to our team's hard work and the strength of Dubai as a global travel hub.' Top performing categories and luxury expansion plans Perfumes, liquor, cigarettes and tobacco, gold, and confectionery retained their positions as the top five product categories. Perfume sales reached Dhs744.24m ($203.90m), accounting for 18 per cent of total revenue and reflecting a 5 per cent increase over the same period last year. Liquor followed closely with Dhs513.37m ($140.65m) in sales. Sales of cigarettes and tobacco rose by 12.24 per cent year-on-year, totaling Dhs439.91m ($120.52m), while Gold sales grew by 6.14 per cent to Dhs416.90m ($114.22m), contributing just over 10 per cent to overall revenue. Confectionery continued its strong upward trend, recording Dhs412.52m ($113.02m) in sales—a remarkable 62.70 per cent increase from the same period in 2024. Cosmetics also performed well, increasing 3.36 per cent to Dhs201.51m ($55.21m) and contributing nearly 5 per cent to total turnover. 'We are looking forward to an equally busy second half of the year,' Cidambi said. Passenger spend and terminal sales on the rise Passenger spending across Dubai International Airport continued to grow during the first six months of 2025. Terminal 3, the largest and busiest terminal, recorded a 6.37 per cent rise in duty free sales, driven by both increased foot traffic and higher average spend per traveler. Terminal 1 also showed healthy growth, posting a 5.25 per cent sales increase over the same period last year. Sales performance improved across all major passenger regions. European travelers led the way with a 16.89 per cent year-on-year increase in spending, followed by the Middle East with an 8.15 per cent rise. The Russian region saw a 4.41 per cent gain, while the Indian subcontinent showed steady growth of 1.02 per cent. These trends highlight Dubai's continued appeal as a global transit hub and signal strong consumer confidence among international travelers. Dubai Duty Free officials remain optimistic about sustained growth in the second half of the year, particularly during the upcoming peak travel months and traditionally busy final quarter.

Qatar Central announces changes in new One Riyal banknote
Qatar Central announces changes in new One Riyal banknote

Zawya

time22 minutes ago

  • Zawya

Qatar Central announces changes in new One Riyal banknote

Doha, Qatar: Qatar Central Bank (QCB) announced changes in the One Riyal denomination of the country's fifth series of banknotes. The new edition will now include changes in the official state emblem, arabic numerals, and issue date. QCB stated that the change was implemented to align with the laws in force in the country. It further affirmed that the previous edition of the Qatari Riyal (Fifth Series) will remain in circulation, and this change will further be applied to other currency denominations at a later date. © Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. (

Abu Dhabi VC firm EQIQ invests $3mln in Iraq's Instabank
Abu Dhabi VC firm EQIQ invests $3mln in Iraq's Instabank

Zawya

time22 minutes ago

  • Zawya

Abu Dhabi VC firm EQIQ invests $3mln in Iraq's Instabank

UAE-based venture capital fund EQIQ has invested $3 million in Iraq's Instabank, in line with a strategy to mordernise the financial sector in the country. The anchor investment is part of a larger $15 million funding round for the next-generation digital bank, founded in 2025 by Iraqi-American banker Hussain Qaragholi. Instabank, officially Al-Fawr Digital Bank, seeks to boost financial inclusion in Iraq through digital innovation and by leveraging AI and advanced digital tools. According to Mohamed Al-Hakim, Founding Partner at EQIQ, Instabank is poised to be the foundation of their efforts to digitise financial ecosystems in Iraq. Headquartered in Abu Dhabi Global Market (ADGM), EQIQ is pursuing investments in technology start-ups in Iraq. It has recently announced plans to expand its fund size from $15 million to $30 million. (Writing by Cleofe Maceda; editing by Seban Scaria)

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store