Dubai: Nasdaq Dubai has welcomed Mashreq’s debut listing with the admission of a USD 500 million Sukuk issued by Mashreq Al Islami Sukuk Company Ltd. The Trust Certificates, due in 2030, were issued under Mashreq’s US$ 2.5 billion Trust Certificate Issuance Programme and are now admitted as a secondary listing following strong demand in the primary market.
According to Emirates News Agency, this marks a significant milestone for Mashreq as it broadens its access to international capital markets and strengthens its presence in the Islamic finance sector. This development also highlights Nasdaq Dubai’s ongoing role in linking regional issuers with a global investor base through a well-regulated and diversified platform.
Senior officials from Mashreq, including Ahmed Abdelaal, Group Chief Executive Officer; Joel Van Dusen, Group Head of Corporate and Investment Banking; and Salman Hadi, Group Head of Treasury and Global Markets, attended the market opening ceremony at Nasdaq Dubai to celebrate the listing. The bell was rung by Ahmed Abdelaal in the presence of Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM).
Abdul Aziz Al Ghurair, Chairman of Mashreq, emphasized the importance of this Sukuk listing in reinforcing the global Islamic finance landscape. He stated that it demonstrates Mashreq’s long-term commitment to Islamic finance and the UAE’s emerging role as a global nexus for ethical and Sharia-compliant financing, while reinforcing investor trust.
Ahmed Abdelaal, Group Chief Executive Officer of Mashreq, remarked on the significance of their debut listing on Nasdaq Dubai, stating that the Sukuk issuance attracted strong investor interest and affirmed Mashreq’s disciplined funding approach. He reiterated their commitment to delivering strong fundamentals, market transparency, and sustainable value for all stakeholders.
Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM), highlighted Mashreq’s ambitions in the Islamic finance sector and the exchange’s role in connecting regional issuers with global investors. He noted Dubai’s commitment to providing an efficient and transparent platform to support diverse financing needs and promote sustainable growth.
This landmark Sukuk issuance marked Mashreq’s successful return to the international debt capital markets. It was the first public issuance from the CEEMEA region since the U.S. tariffs announcement in April 2025, which had caused market volatility. The successful transaction renewed market confidence and was followed by additional issuances, reopening the market for regional issuers.
The transaction attracted substantial investor interest, with an orderbook of US$ 2.9 billion, nearly six times oversubscribed. Final pricing was tightened to UST +105 basis points with a fixed profit rate of 5.03% per annum, reflecting strong investor confidence in Mashreq’s credit fundamentals. With broad participation from over 90 global investors across the Middle East, Europe, and Asia, the issuance reaffirms Mashreq’s leadership in Islamic finance and enhances Dubai’s status as a global hub for Sharia-compliant capital markets.
With this listing, the total value of Sukuk listed on Nasdaq Dubai has reached US$ 97.2 billion, reinforcing the exchange’s position as one of the largest centers for Islamic fixed-income securities. The overall value of debt securities on Nasdaq Dubai now exceeds US$ 140 billion across 163 issuances, showcasing the depth and maturity of the UAE’s capital markets and Dubai’s appeal as a gateway for investment.