DUBAI: Nasdaq Dubai has announced the listing of a $500 million Sukuk issued by Dubai Islamic Bank (DIB), marking a significant step in the bank's strategy to bolster its capital and leadership within the Islamic finance sector. The additional Tier 1 (AT1) Sukuk, featuring a profit rate of 5.25 percent per annum, experienced substantial oversubscription due to strong investor demand. According to Emirates News Agency, this strategic issuance further enhances DIB's role in the global Islamic finance market, providing necessary capital to support its growth initiatives. The listing on Nasdaq Dubai not only reinforces the exchange's position as a principal hub for Sukuk but also contributes to the total outstanding Sukuk, which now amounts to $93 billion across 102 listings, with a combined $133 billion in capital market listings. The Sukuk issuance attracted a wide range of investors, including financial institutions, private banks, and fund managers from Europe, Asia, and the Middle East. This diversity high lights the increasing attractiveness of Islamic financial instruments and reflects investor confidence in the UAE's financial markets. The Sukuk is dual-listed on Nasdaq Dubai and Euronext Dublin. To commemorate the listing, Saeed Wajdi, Chief of Treasury at DIB, and Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market, participated in a market-opening ceremony. Dr. Adnan Chilwan, Group CEO of DIB, commented on the listing's significance in reaffirming market confidence in both DIB and the UAE's economic resilience. Hamed Ali noted the growing demand for Islamic finance and emphasized Nasdaq Dubai's commitment to providing a supportive platform for issuers and investors. The transaction achieved a reset spread of 133.4 basis points over US Treasuries, the lowest for an AT1 instrument globally since the 2009 financial crisis. DIB's issuance is rated A3 (Stable) by Moody's and A (Stable) by Fitch, with the bank maintaining an outstanding value of over $9 billion through 11 Sukuk listings on Nasdaq Dubai .