Latest news with #AhmedAbdelaal
Arabian Post
11-06-2025
- Business
- Arabian Post
Mashreq's $500 Million Sukuk Garners Global Attention
Mashreq Bank has secured a US$500 million Sukuk issuance through its special-purpose vehicle, Mashreq Al Islami Sukuk Company Ltd, with a secondary listing on Nasdaq Dubai. The trust certificates, set to mature in 2030, were unveiled under the bank's US$2.5 billion Trust Certificate Issuance Programme. The issuance drew overwhelming appetite in the primary market, with subscriptions reaching nearly US$2.9 billion—almost six times the issued amount—before being admitted for trading on Nasdaq Dubai. Market officials and state dignitaries marked the admission ceremony. Senior Mashreq officials including Group CEO Ahmed Abdelaal, Group Head of Corporate & Investment Banking Joel Van Dusen, and Group Head of Treasury & Global Markets Salman Hadi were present. The ceremonial bell was rung by Abdelaal, alongside Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market, signifying a deepening partnership between the lender and the exchange. The demand for the paper was robust: pricing tightened to UST + 105 basis points, offering a fixed annual return of 5.03%. Participation included more than 90 investors across the Middle East, Europe and Asia, reflecting broad confidence in Mashreq's creditworthiness and reinforcing Dubai's rising role as a global hub for Islamic finance. ADVERTISEMENT Islamic finance is a growing pillar of Dubai's capital markets. Nasdaq Dubai is now home to over US$140 billion in listed debt, of which around US$97.2 billion comprises Sukuk across 163 issuances, bolstering the emirate's reputation in sharia-compliant instruments. This Sukuk marks Mashreq's return to international debt markets and sets a positive tone following heightened volatility triggered by US tariffs on the CEEMEA region in April 2025. According to Nasdaq Dubai CEO Hamed Ali, the success signifies 'Mashreq's growing ambitions in the Islamic finance sector' and affirms the exchange's role in connecting regional issuers with global investors. Mashreq Chairman Abdul Aziz Al Ghurair emphasised the issuance's significance: 'This Sukuk listing marks an important step in Mashreq's commitment to strengthening the global Islamic finance landscape … a clear demonstration of cross-border capital flows.' Ahmed Abdelaal added that the listing 'affirms our disciplined approach to funding, even in a complex macro environment'—a nod to the bank's focus on transparency and sustainable value. From a broader standpoint, the transaction shows Dubai's resilience amid global financial uncertainty. With the UST + 105 basis points spread reflecting investor trust, analysts note that the oversubscription by nearly six‑fold underscores continued market appetite for quality issuances. It strengthens investor confidence not just in Mashreq but across issuers in the CEEMEA region. Notably, this offering marks Nasdaq Dubai's first CEEMEA issuance since April's tariff shock—a turning point that restored market momentum. Regional issuers have since pursued multiple debt placements, signalling a revival of cross-border capital flows. The listing harmonises with Dubai's strategic goal to deepen Islamic capital markets and elevate its position as a capital-raising gateway for global investors. As Sukuk issuance gains traction amid tighter regulatory oversight and rising demand for ethical financing, Mashreq's listing not only advances its own capital diversification goals but also contributes to the maturation of Islamic fixed-income markets. With plans to issue further Islamic debt under its US$2.5 billion programme, the bank appears poised to leverage both primary and secondary market channels. Moving forward, stakeholders will watch for future issuances by Mashreq and other CEEMEA-based issuers to assess whether this marks a sustainable trend in Islamic finance, or a one-off surge. However, the combination of strong demand, disciplined pricing and enhanced market access marks a positive step for the sector.
Zawya
11-06-2025
- Business
- Zawya
Nasdaq Dubai welcomes Mashreq's $500mln debut sukuk listing
Dubai: Mashreq Bank listed a $500 million Sukuk on Nasdaq Dubai through Mashreq Al Islami Sukuk Company Limited, according to a press release. Issued under Mashreq's $2.50 billion Trust Certificate Issuance Program, the offering is being admitted as a secondary listing following strong demand in the primary market. The Trust Certificates, due in 2030, attracted significant investor interest, implying an orderbook of $2.90 billion, nearly six times oversubscribed. The final pricing was tightened to UST +105 basis points with a fixed profit rate of 5.03% annually. With this listing, the total value of Sukuk listed on Nasdaq Dubai stood at $97.20 billion, reinforcing the exchange's position as one of the world's largest centers for Islamic fixed income. The overall value of debt securities listed on Nasdaq Dubai currently exceeds $140 billion, across 163 issuances. Ahmed Abdelaal, Group CEO of Mashreq, said: 'Our debut listing on Nasdaq Dubai marks a new chapter in Mashreq's capital markets journey. This Sukuk issuance not only attracted strong investor interest, but also affirms our disciplined approach to funding, even in a complex macro environment.' Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM), said: 'As Dubai continues to strengthen its capital markets infrastructure, we remain committed to providing an efficient and transparent platform that supports diverse financing needs and promotes sustainable growth across the financial ecosystem.' In the first quarter (Q1) of 2025, Mashreq Bank recorded 12% lower net profits after tax at AED 1.79 billion, compared to AED 2.04 billion in Q1-24.
Trade Arabia
05-06-2025
- Business
- Trade Arabia
Nasdaq Dubai welcomes Mashreq's $500m sukuk listing
Nasdaq Dubai welcomed leading Dubai-based bank Mashreq debut listing on the exchange with the admission of a $500 million sukuk issued by Mashreq Al Islami Sukuk Company. The Trust Certificates, due in 2030, were issued under Mashreq's $2.5 billion Trust Certificate Issuance Programme and are being admitted as a secondary listing following strong demand in the primary market. This marks an important milestone for Mashreq as it expands its access to international capital markets and strengthens its presence in the Islamic finance space. It also reflects Nasdaq Dubai's continued role in connecting 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 & Investment Banking; and Salman Hadi, Group Head of Treasury & 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). On the debut sukuk, Mashreq Chairman Abdul Aziz Al Ghurair said: "This sukuk listing marks an important step in Mashreq's commitment to strengthening the global Islamic finance landscape. It is a clear demonstration of Mashreq's long-term commitment to Islamic finance, the deepening of cross-border capital flows, and the UAE's continued emergence as a global nexus for ethical and Sharia-compliant financing." "Through this programme, we are proud to reinforce investor trust and contribute meaningfully to the maturing of Islamic capital markets," he stated. Abdelaal said the debut listing on Nasdaq Dubai marks a new chapter in Mashreq's capital markets journey. "This sukuk issuance not only attracted strong investor interest, but also affirms our disciplined approach to funding, even in a complex macro environment. As we continue to diversify our capital structure through Sharia-compliant channels, we remain committed to delivering strong fundamentals, market transparency, and sustainable value for all stakeholders," he added. Welcoming the Mashreq listing, Ali said it reflects the bank's growing ambitions in the Islamic finance sector and underscores DFM's role as a leading marketplace that connects regional issuers with global investors. "As Dubai continues to strengthen its capital markets infrastructure, we at DFM remain committed to providing an efficient and transparent platform that supports diverse financing needs and promotes sustainable growth across the financial ecosystem," he stated. With this listing, the total value of sukuk listed on Nasdaq Dubai has reached $97.2 billion, further strengthening the exchange's position as one of the world's largest centres for Islamic fixed income. The overall value of debt securities listed on Nasdaq Dubai now stands at over $140 billion, across 163 issuances, said Ali.
Tahya Masr
05-06-2025
- Business
- Tahya Masr
Nasdaq Dubai Welcomes Mashreq's USD 500 Million Sukuk Listing
Nasdaq Dubai welcomed Mashreq's (''Mashreq'' or ''the Bank'') debut listing on the exchange 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 USD 2.5 billion Trust Certificate Issuance Programme and are being admitted as a secondary listing following strong demand in the primary market. This marks an important milestone for Mashreq as it expands its access to international capital markets and strengthens its presence in the Islamic finance space. It also reflects Nasdaq Dubai's continued role in connecting 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 & Investment Banking; and Salman Hadi, Group Head of Treasury & 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, commented: "This Sukuk listing marks an important step in Mashreq's commitment to strengthening the global Islamic finance landscape. It is a clear demonstration of Mashreq's long-term commitment to Islamic finance, the deepening of cross-border capital flows, and the UAE's continued emergence as a global nexus for ethical and Sharia-compliant financing. Through this programme, we are proud to reinforce investor trust and contribute meaningfully to the maturing of Islamic capital markets . Ahmed Abdelaal, Group Chief Executive Officer, Mashreq said: 'Our debut listing on Nasdaq Dubai marks a new chapter in Mashreq's capital markets journey. This Sukuk issuance not only attracted strong investor interest, but also affirms our disciplined approach to funding, even in a complex macro environment. As we continue to diversify our capital structure through Sharia-compliant channels, we remain committed to delivering strong fundamentals, market transparency, and sustainable value for all stakeholders. Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM), said: 'This listing reflects Mashreq's growing ambitions in the Islamic finance sector and underscores our role as a leading marketplace that connects regional issuers with global investors. As Dubai continues to strengthen its capital markets infrastructure, we remain committed to providing an efficient and transparent platform that supports diverse financing needs and promotes sustainable growth across the financial ecosystem. This landmark Sukuk issuance marked Mashreq's successful return to the international debt capital markets. It was also the first public issuance from the CEEMEA region since the announcement of U.S. tariffs in April 2025, which had triggered heightened volatility across global markets. The success of this transaction renewed market participants' confidence, and was followed by a string of issuances, thereby helping to reopen the market for regional issuers. The transaction attracted significant investor interest, resulting in an orderbook of USD 2.9 billion, nearly six times oversubscribed. The final pricing was tightened to UST +105 basis points with a fixed profit rate of 5.03% per annum, reflecting the strength and quality of the orderbook and 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 reinforces Dubai's growing stature as a global hub for Sharia-compliant capital markets. With this listing, the total value of Sukuk listed on Nasdaq Dubai has reached USD 97.2 billion, further strengthening the exchange's position as one of the world's largest centres for Islamic fixed income. The overall value of debt securities listed on Nasdaq Dubai now stands at over USD 140 billion, across 163 issuances. These figures reflect the depth and maturity of the UAE's capital markets, as well as the growing appeal of Dubai as a gateway for regional and international investment.
Gulf Business
04-06-2025
- Business
- Gulf Business
Nasdaq Dubai welcomes Mashreq's $500m Sukuk listing
Image credit: Getty Images Nasdaq Dubai welcomed Mashreq's ('Mashreq' or 'the Bank') debut listing on the exchange with the admission of a $500m Sukuk issued by Mashreq Al Islami Sukuk Company Ltd. Read- The trust certificates, due in 2030, were issued under Mashreq's $2.5bn Trust Certificate Issuance Programme and admitted as a secondary listing following strong demand in the primary market, This marks an important milestone for Mashreq as it expands its access to international capital markets and strengthens its presence in the Islamic finance space. It also reflects Nasdaq Dubai's continued role in connecting regional issuers with a global investor base through a well-regulated and diversified platform. Celebrating a strategic milestone Senior officials from Mashreq, including Ahmed Abdelaal, Group Chief Executive Officer; Joel Van Dusen, Group Head of Corporate & Investment Banking; and Salman Hadi, Group Head of Treasury & Global Markets, attended the market opening ceremony at Nasdaq Dubai to celebrate the listing. The ceremonial bell was rung by Ahmed Abdelaal in the presence of Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM). 'This Sukuk listing marks an important step in Mashreq's commitment to strengthening the global Islamic finance landscape. It is a clear demonstration of Mashreq's long-term commitment to Islamic finance, the deepening of cross-border capital flows, and the UAE's continued emergence as a global nexus for ethical and Sharia-compliant financing. Through this programme, we are proud to reinforce investor trust and contribute meaningfully to the maturing of Islamic capital markets,' said Abdul Aziz Al Ghurair, Chairman of Mashreq. 'Our debut listing on Nasdaq Dubai marks a new chapter in Mashreq's capital markets journey. This Sukuk issuance not only attracted strong investor interest but also affirms our disciplined approach to funding, even in a complex macro environment. As we continue to diversify our capital structure through Sharia-compliant channels, we remain committed to delivering strong fundamentals, market transparency, and sustainable value for all stakeholders,' said Ahmed Abdelaal, Group CEO of Mashreq. Investor confidence and market impact Hamed Ali, CEO of Nasdaq Dubai and DFM, said: 'This listing reflects Mashreq's growing ambitions in the Islamic finance sector and underscores our role as a leading marketplace that connects regional issuers with global investors. As Dubai continues to strengthen its capital markets infrastructure, we remain committed to providing an efficient and transparent platform that supports diverse financing needs and promotes sustainable growth across the financial ecosystem.' This landmark Sukuk issuance marked Mashreq's successful return to the international debt capital markets. It was also the first public issuance from the CEEMEA region since the announcement of U.S. tariffs in April 2025, which triggered heightened volatility across global markets. The success of this transaction renewed market participants' confidence and was followed by a string of issuances, helping to reopen the market for regional issuers. The transaction attracted significant investor interest, generating an orderbook of $2.9bn—nearly six times oversubscribed. The final pricing was tightened to UST +105 basis points with a fixed profit rate of 5.03 per cent per annum, reflecting investor confidence in Mashreq's credit fundamentals. With participation from over 90 global investors across the Middle East, Europe, and Asia, the issuance reaffirms Mashreq's leadership in Islamic finance and reinforces Dubai's growing status as a global hub for Sharia-compliant capital markets. With this listing, the total value of Sukuk listed on Nasdaq Dubai has reached $97.2bn, further strengthening the exchange's position as one of the world's largest centers for Islamic fixed income. The overall value of debt securities listed on Nasdaq Dubai now stands at over $140bn across 163 issuances—a testament to the depth and maturity of the UAE's capital markets and the growing appeal of Dubai as a gateway for regional and international investment.
