Noor Bank welcomed the listing of $500 Sukuk on Nasdaq Dubai.
The capital raised supports Noor Bank’s continuing rapid growth as a fully scalable universal Islamic bank across the UAE active in a wide range of products and services including retail, corporate and investment banking as well as treasury and insurance. Dubai-based Noor Bank has arranged more than US$64 billion worth of syndication and capital market transactions since 2008.
Listed on 24th April, 2018, Noor Bank’s US$500 million Sukuk is a five-year instrument that was oversubscribed 2.1 times following a successful international roadshow. It is Noor Bank’s third Sukuk to be hosted by the region’s international exchange, following two listings of US$500 million each in 2015 and 2016.
The bell-ringing was attended by John Iossifidis, Chief Executive Officer of Noor Bank; Essa Kazim, Governor of Dubai International Financial Centre, Secretary-General of Dubai Islamic Economy Development Centre, Chairman of Dubai Financial Market, and Vice Chairman of Noor Bank; as well as Hamed Ali, Chief Executive of Nasdaq Dubai, and senior Noor Bank executives.