• UAE's Largest Bank Issues $500m sukuk, first globally in 2021

      January 24, 2021    

    The bank said it has given the least actually yield on any five-year MENA bank US dollar issuance with its $500 million Sukuk.

    Given through FAB Sukuk Company Limited, the contribution pulled in an all-out request book of about $1.5 billion which speaks to a three times over-membership rate.

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    FAB: Top-notch Islamic and Regular Financial Specialists

    FAB said in an explanation that the Sukuk pulled in "top-notch Islamic and regular financial specialists from the Middle East, Asia, UK, and Europe".

    Inlet banks are joining a rush of worldwide getting after yields slammed following an exceptional boost by specialists to keep economies above water during the Covid pandemic.

    Emirates NBD raised $750 million a week ago in the Middle East's first dollar security offer of 2021.

    Rula Al-Qadi, overseeing chief and head of Group Funding at FAB stated: "We are exceptionally satisfied with the result of our Sukuk issue. Coming in the main seven-day stretch of January, we figured out how to exploit economic situations and print an arrangement generally 20bps inside our bend. Indeed, we had huge help from financial specialists around the world – both Islamic and traditional – which is a demonstration of FAB's solid credit essentials and the general positive perspective on Abu Dhabi and the UAE economy by worldwide speculators."

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