Nasdaq Dubai Welcomes USD 500 Million Sukuk Listed by Ajman Bank

Dubai, 20 May 2025 – Nasdaq Dubai today welcomed the listing of a USD 500 million Senior Sukuk issued by Ajman Bank, marking the bank’s first Sukuk issuance and debut listing on the international exchange.

Issued under Ajman Bank’s USD 1.5 billion Trust Certificate Issuance Programme, the Sukuk attracted strong investor demand, achieving 5.4 times oversubscription and garnering interest from over 100 global investors. The five-year issuance, maturing in 2030, underscores the growing appeal of Sharia-compliant instruments from UAE-based financial institutions.

Mustafa Al Khalfawi, Chief Executive Officer, Ajman Bank rang the market-opening bell at Nasdaq Dubai to commemorate the listing, in the presence of Mr. Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM).

Mustafa Al Khalfawi, Chief Executive Officer, Ajman Bank said: “This debut Sukuk issuance marks a strategic milestone in Ajman Bank’s journey, aligned with our ongoing efforts to diversify our funding base and broaden investor access. The positive response from the global market reflects confidence in our financial performance and future outlook. Listing on Nasdaq Dubai reinforces our commitment to international standards of transparency and growth”.

This listing reflects the strong collaboration between Ajman Bank and Nasdaq Dubai in supporting the development of Islamic capital markets.

Hamed Ali, CEO of Nasdaq Dubai and DFM, said: “We are pleased to welcome Ajman Bank to Nasdaq Dubai’s growing community of regional and global issuers. This debut listing reflects the dynamic momentum in the Islamic capital markets and reinforces Dubai’s position as a global center for Sukuk listings. We are proud to support Ajman Bank in this important milestone and look forward to deepening our collaboration in the future”.

Ajman Bank joins a distinguished group of regional and international banks listed on the exchange, contributing to the USD 30.6 billion currently listed across 51 debt instruments by financial institutions on Nasdaq Dubai.

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About Ajman Bank:
Ajman Bank is an Islamic bank with an ambitious vision based on values of integrity, trust and transparency seeks to provide a wide range of Sharia-compliant and high-quality banking services to customers from individuals, companies and government institutions across the UAE. It is also keen to be updated with the latest technology that will ensure customers a distinctive experimental banking with the revival of human touch that is lost in the modern era of banking application.

Ajman Bank is headquartered in Ajman and enjoys the strong support of the Government of Ajman and is a key pillar in the emirate’s economic development strategy. The bank continues its tireless efforts to establish a prominent position in the banking sector as a sustainable Islamic banking institution, with an emphasis on the need to achieve an optimal balance in the community and caring staff, in order to provide real value for shareholders and customers alike. For more information visit http://www.ajmanbank.ae

About Nasdaq Dubai:  

Nasdaq Dubai is the international financial exchange serving the region between Western Europe and East Asia. It welcomes regional as well as global issuers that seek regional and international investment. The exchange currently lists shares, derivatives, Sukuk (Islamic bonds), conventional bonds and Real Estate Investment Trusts (REITS). The majority shareholder of Nasdaq Dubai is Dubai Financial Market with a two-thirds stake. Borse Dubai owns one third of the shares. The regulator of Nasdaq Dubai is the Dubai Financial Services Authority (DFSA).

For further information, please contact:

Noora Al Soori

Communications and Public Relations

Dubai Financial Market
Tel: +971 4 305 5437
E: nalsoori@dfm.ae

Shruti Choudhury                                                                                                         
Associate Director                                                                
Edelman Smithfield                                                         
M: +971 54 586 7874                                                  
E: dfmedelmansmithfield@edelman.com