On 8 October 2025, Nasdaq Dubai celebrated the listing of Emirates Islamic’s USD 500 million Sustainability-Linked Financing Sukuk, marking the world’s first sukuk of this kind.
This landmark issuance, conducted under Emirates Islamic’s USD 4 billion Sukuk Programme, underscores the bank’s leadership in sustainable Islamic finance and reinforces the UAE’s broader sustainability agenda. Strong international demand was evident: orders reached USD 1.2 billion — oversubscribed by 2.4 times. Thanks to that oversubscription, the bank was able to tighten the profit rate to 4.540% per annum, with a spread of 95 basis points over 5-year US Treasuries.
To mark the occasion, Hesham Abdulla Al Qassim (Chairman of Emirates Islamic and Vice Chairman & Managing Director of Emirates NBD) rang the bell alongside Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM). Al Qassim commented that the listing “underscores Emirates Islamic’s financial strength and our commitment to achieving the UAE’s Net Zero 2050 ambitions,” emphasizing the significance of offering advanced, Shari’ah-compliant solutions that appeal globally.
Hamed Ali added that this listing is a “landmark moment” for Nasdaq Dubai and the Islamic finance industry, showcasing Dubai’s growing stature as a global hub for both Islamic and sustainable capital markets. He reaffirmed the exchange’s commitment to innovation and support for ESG-aligned financing.
Following the new listing, Emirates Islamic’s total outstanding sukuk on Nasdaq Dubai has reached USD 2.77 billion. In aggregate, Nasdaq Dubai now hosts over USD 100 billion in outstanding sukuk, with USD 140 billion in fixed-income listings and USD 28.7 billion in ESG instruments, of which USD 1.55 billion are sustainability-linked issuances.
This move not only cements Emirates Islamic’s influence in sustainable finance but also advances Dubai and the UAE’s ambition to be at the forefront of environmentally responsible financial innovation.
