A subsidiary of Abu Dhabi Islamic Bank lists $750m sukuk on the MSM
ADIB Capital Invest 2 LTD, a subsidiary of Abu Dhabi Islamic Bank, has listed a $750m Additional Tier 1 Capital Certificates through a perpetual sukuk on the Main Securities Market (MSM) of Euronext Dublin.
About Abu Dhabi Islamic Bank (ADIB)
ADIB, which was established in 1997, is a leading bank in the UAE with more than AED 122bn in assets. It provides retail, corporate, business, private banking and wealth management solutions.
ADIB has over one million customers and the third largest distribution network in the UAE with over 80 branches and more than 700 ATMs.
ADIB’s shares are traded on the Abu Dhabi Securities Exchange (ADX).
Euronext Dublin is popular with sovereign and corporate bond issuers from the Middle East
Other issuers from the Middle East on Euronext Dublin’s debt markets include Saudi Electricity Company, Emirates, Kuwait Energy, Ruwais Power Company and Emirates Telecommunications Corp.
Euronext Dublin also has sovereign bonds listings from Middle Eastern countries such as Kuwait, Jordan, Oman, Bahrain and the Kingdom of Saudi Arabia.
Notes to editor
A sukuk is the Islamic equivalent of a bond. However, unlike a Western bond, which confers ownership of a debt only, sukuk grants the investor a share of an asset, along with the commensurate cash flows and risk. As such, sukuk securities are in compliance with Islamic laws. They are also sometimes referred to as “sharia-compliant” bonds.