Dubai’s Mashreq Bank Lists $500 Million Sukuk on Nasdaq Dubai
Mashreq has listed a $500 million sukuk on Nasdaq Dubai. This move is part of the bank’s plan to grow in the global Islamic finance market and raise money from international investors.
Mashreq Lists Sukuk on Nasdaq Dubai
Mashreq Bank has listed Islamic bonds (called sukuk) on Nasdaq Dubai. These sukuk were issued by Mashreq Al Islami Sukuk Company and will mature in 2030. They are part of the bank’s $2.5 billion sukuk program. The listing comes after strong interest from global investors, according to the UAE’s official news agency WAM.
Mashreq’s CEO, Ahmed Abdelaal, took part in the opening ceremony at Nasdaq Dubai, where he rang the market bell with Nasdaq Dubai and DFM CEO Hamed Ali.
The sukuk offering was very popular, attracting $2.9 billion in orders—almost six times more than the amount offered. More than 90 big investors from the Middle East, Europe, and Asia showed interest. The final profit rate was fixed at 5% per year.
This is the first major public sukuk offering from the CEEMEA region (Central and Eastern Europe, Middle East, and Africa) since the U.S. announced new tariffs in April, which caused uncertainty in global markets. Because of this, many UAE companies preferred issuing sukuk instead of traditional bonds to raise money in U.S. dollars.
Key Figures
With this listing, the total value of sukuk on Nasdaq Dubai has reached $97.2 billion. In total, Nasdaq Dubai now hosts over $140 billion in debt securities from 163 different issues. This shows how attractive the UAE’s financial markets have become to global investors.
Growth in UAE Islamic Finance
The UAE wants to more than double its Islamic banking assets to $697.5 billion by 2031. It has a new plan to strengthen the Islamic finance sector. The country also aims to increase local sukuk issues to $179.8 billion and global sukuk listings to $107.5 billion.
A special committee led by the central bank governor will make sure the plan is carried out.
By the end of March 2025, the UAE’s Islamic finance industry was worth around $285 billion. It is expected to grow more because of strong demand and support from regulators.
Sukuk made up about 18% of the UAE’s debt market in the first quarter of 2025. Sukuk issuance rose 28% from last year to $6.5 billion during the first four months of 2025, while traditional bonds grew by 6.7%.
Published: 6th June 2025
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