Emirates Islamic has successfully issued a $750 million Senior Unsecured Sukuk on March 18, 2025. The Sukuk drew a very large order book of more over $1.6 billion, resulting in a 2.1 times oversubscription rate. Because to the significant investor demand, the Bank was able to tighten the gap by 30 basis points from its initial pricing expectations to 95 basis points over 5-Year US Treasuries, resulting in an annual yield of 5.059 percent.
Global investors reacted positively to the issue, with regional investors receiving 80% of the Sukuk and overseas investors receiving the remaining 20%. Over 100 investors expressed interest, including many new investors who purchased the Bank’s Sukuk for the first time, highlighting Emirates Islamic’s growing reputation in the worldwide investor community.
Farid AlMulla, the bank’s Chief Executive Officer, stated, “This milestone demonstrates Emirates Islamic’s growing recognition among the worldwide investor community. Islamic Finance continues to grow greatly while offering increasingly sophisticated products and structures.
Mohammad Kamran Wajid, Deputy Chief Executive Officer, stated, “We are proud to conclude the next Sukuk in Emirates Islamic’s growth journey, which aligns with our vision of being the most innovative Shariah-compliant bank for our counterparties, customers, people, and communities.”
Ebrahim Qayed, Head of Treasury and Markets, stated, “The market response to our new Sukuk Issuance has been phenomenal.” Concluding two significant acquisitions worth $750 million each in two consecutive years demonstrates the global market’s rising hunger for investment opportunities from Emirates Islamic.
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