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

      January 24, 2021    

    First Abu Dhabi Bank (FAB), the UAE's biggest bank, on Monday, declared it has given the first Sukuk universally in 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.

     Emirates Loan is one of the best company in UAE that facilitate you to get Personal Loan, Business Loan,  Car Loan or credit cards. Call Us 📞 0526311060

    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."

    For all the most recent banking and money news from the UAE and Gulf nations, follow us on Twitter and similar to us on Facebook, and our YouTube page, which is refreshed day by day.

Apply For Loans & Credit Cards To UAE Banks

only for UAE

Social Media