Mashreq Bank, one of the UAE’s oldest and most prominent financial institutions, has made a notable entry into the Islamic finance market by listing its first-ever Sukuk on Nasdaq Dubai. The $500 million issuance, structured under Mashreq’s $2.5 billion Trust Certificate Issuance Programme, is set to mature in 2030. This strategic move underscores Mashreq’s commitment to diversifying its funding sources and expanding its presence in the Sharia-compliant finance sector.

The Sukuk, issued by Mashreq Al Islami Sukuk Company Ltd., received an overwhelming response from investors, with the order book peaking at $2.9 billion, nearly six times the offer size. This strong demand reflects investor confidence in Mashreq’s financial stability and the growing appeal of Islamic financial instruments.

The listing on Nasdaq Dubai not only enhances the exchange’s position as a leading platform for Sukuk issuances but also reinforces Dubai’s status as a global hub for Islamic finance. With this addition, Nasdaq Dubai continues to attract significant listings, contributing to the growth and diversification of the region’s capital markets.

Mashreq’s successful Sukuk issuance and listing signify a pivotal step in its ongoing efforts to innovate and adapt to the evolving financial landscape, offering investors diversified and Sharia-compliant investment opportunities.