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Trade Arabia
2 days ago
- 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.
bnok24
2 days ago
- Business
- bnok24
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 Google News تابعونا على تابعونا على تطبيق نبض
Zawya
3 days ago
- Business
- Zawya
Nasdaq Dubai welcomes Mashreq's $500mln sukuk listing
The listing brings the total value of Sukuk on Nasdaq Dubai to USD 97.2 billion, reinforcing its status as a global centre for Islamic finance. Dubai: 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. About Mashreq: Mashreq is more than half a century old, yet proudly thinks like a challenger, startup, and innovator. Mashreq has pioneered key innovations and developments in banking, starting with entry-level digital-first customers all the way to powering some of the region's most prominent corporations and wealth accounts. The bank's mandate is to help customers find their way to Rise Every Day, partnering through the highs and lows to help them achieve their goals and unlock their vision of success. Reassuringly present in major financial centres of the world, Mashreq's home and global HQ remains in the Middle East, offering services whenever and wherever opportunity takes its customers. Mashreq has been recognized as the fastest-growing Middle East brand, by Banking 500 rankings for 2024 by Brand Finance. Find your way to Rise Every Day at: 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 E: nalsoori@ Shruti Choudhury Associate Director Edelman Smithfield E: dfmedelmansmithfield@
Tahya Masr
01-05-2025
- Business
- Tahya Masr
Mashreq generated over AED 3.1 billion in operating income, supported by double-digit growth of balance sheet
Mashreq Bank PSC (MASQ) reported its financial results for Q1 2025. Mashreq continues to deliver market-leading returns, supported by best-in-class asset quality and a robust capital structure. The bank's first quarter of 2025 results underscores the strength and resilience of Mashreq's diversified business model, even in a softer interest rate environment. Revenues Mashreq delivered AED 3.1 billion in operating income, reflecting its resilience and strategic focus, as the Bank continued to seize market opportunities and drive performance. • Mashreq's client asset growth combined with healthy client margins helped cushion the impact of the 100bps reduction in the UAE Central Bank's benchmark interest rate, limiting year-on-year Net Interest Margin (NIM) compression to just 62bps and remaining a strong NIM at 3.3%. • Non-interest income increased by 16% year-on-year, underscoring the effectiveness of the bank's strategy to diversify revenue streams beyond traditional interest-based income, reducing total revenue exposure to interest rate fluctuations. Net Profit Mashreq delivered a solid quarterly Profit Before Tax of AED 2.1 billion, driven by strong balance sheet growth, including a 14% year-on-year increase in loans and advances and a 10% year-on-year rise in customer deposits, double digit growth in non-interest income, controlled expense growth and relative low risk costs. Return on Equity (ROE) of 21% reflects strong profitability and effective capital deployment, underscoring the banks disciplined execution of its growth and digital strategies and underlying its financial strength. Expenses Ongoing strategic investments in digital transformation and international expansion led to marginal increase in operating expenses. Operating expenses increased by 9.5% year-on-year while Cost-to-Income Ratio stood at 29% compared to 27% in Q1 2024 and 30%(1) in full-year 2024. H.E. Abdul Aziz Al Ghurair. Chairman, Mashreq said: 'The beginning of 2025 marks another strong chapter in Mashreq's journey of innovation, resilience and regional leadership. As the UAE and the broader GCC region continue to accelerate their digital and economic transformation, Mashreq remains deeply aligned with these national priorities. We are expanding our reach, advancing our capabilities and enabling inclusive growth across markets'. Ahmed Abdelaal, Group Chief Executive Officer, Mashreq said, 'Mashreq entered 2025 with strong momentum, delivering over AED 3 billion of operating income in the first quarter and achieving 14 percent year-on-year growth in loans and advances. These results reflect the continued strength of our diversified business model and our disciplined execution, even amid a more measured interest rate environment. We advanced several strategic priorities during the quarter, including the launch of Mashreq Oman and the successful pilot of digital retail banking in Pakistan. We also continued to strengthen our presence across key markets in MENA and Egypt, aligning our expansion strategy with client demand for more connected, innovative banking solutions'. Mashreq delivered a solid and stable performance in Q1 2025, reflecting the strength of its diversified business model and disciplined execution. The Bank remains focused on driving forward its strategic priorities for 2025 — with innovation, regional growth, and an enhanced client experience at the core. With a strong foundation and a forward-looking approach, Mashreq is accelerating its ambition to be a digital banking leader in the region. The continued rollout of its Banking-as-a-Service strategy is reshaping how financial services are delivered — creating scalable, seamless solutions that meet the evolving needs of clients across markets .
Hi Dubai
19-02-2025
- Business
- Hi Dubai
AGF Summit 2025 Opens with Key Discussions on AI, Education, and Workforce Readiness
The AGF Summit 2025: Innovation and Transformation in Higher Education commenced today, bringing together global education leaders, policymakers, and industry experts to discuss the evolving role of artificial intelligence, technology, and strategic philanthropy in education. Organized by the Abdulla Al Ghurair Foundation (AGF), the summit delves into AI integration in education, workforce preparedness amid automation, and the importance of public-private partnerships in bridging the gap between academia and industry. With youth unemployment rates remaining high and digital exclusion disproportionately affecting women, the discussions centered on fostering digital inclusion and expanding opportunities for underrepresented communities. Abdul Aziz Al Ghurair, Chairman of AGF, set the tone by reinforcing education's transformative power. 'As we embrace the UAE's Year of Community, AGF is committed to a smarter, more sustainable education system—where government, private sector, and civil society unite for real, scalable change,' he stated. Dr. Sonia Ben Jaafar, CEO of AGF, highlighted the urgency of reimagining education in an era of rapid change. She stressed the necessity of a comprehensive strategy to prevent education gaps from widening, particularly for marginalized communities. Key discussions explored AI's potential to enhance access to high-quality, adaptive learning, while also addressing ethical concerns around data privacy and bias. Industry leaders and academic experts debated the increasing relevance of skills-based education, micro-credentials, and alternative learning pathways—challenging traditional higher education models that no longer align with evolving job market demands. The summit continues to serve as a pivotal platform for driving educational innovation and fostering collaboration among stakeholders committed to reshaping the future of learning. News Source: Emirates News Agency
