Nasdaq Dubai welcomed the listing today of a US$500 million Sukuk by Noor Bank, a leading Sharia’a-compliant bank in the UAE. It is Noor Bank’s second Sukuk to be hosted by the region’s international exchange, following a previous $500 million listing in 2016.

The Dubai-based bank’s latest Sukuk issuance is a five-year instrument that was oversubscribed 2.1 times following an international roadshow.

Noor Bank provides a wide range of Sharia’a-compliant products and services in personal and corporate banking, wealth management, insurance, treasury and trading.

The bank’s listing underlines Dubai’s role as the leading global centre for Sukuk listings by value, currently totaling $59.72 billion. Nasdaq Dubai is committed to providing Noor Bank and its other Sukuk issuers with effective listing infrastructure in a world class regulatory environment.