Image Courtesy: Dubai Media Office
Bahrain’s GFH Financial Group (GFH) listed a $200m sukuk on Nasdaq Dubai on June 9, aimed to embolden its balance sheet and diversify income streams.
This marks GFH’s second sukuk listing on Nasdaq Dubai, following the listing of a $300m sukuk in February 2020.
Dubai’s sukuk listings now value $64.5bn, of which UAE issuers account for 44 per cent in terms of value with 56 per cent constituting foreign issuers, Dubai Media Office reported.
Hisham Alrayes, chief executive of GFH Financial Group, said: “As we strengthen our activities as a leading regional and international financial group following our latest successful capital raise, we are delighted to expand our relationship with investors through Nasdaq Dubai. The global visibility that the exchange provides and its high standards of regulation provide valuable support to our strategy of engaging positively with market participants and maintaining their support for our growth and development.”
“As the region’s international exchange, Nasdaq Dubai provides GFH and other Sukuk issuers on its market with excellent investor links and a high public profile. We look forward to welcoming further listings from a range of regional and international issuers to support their funding requirements as they develop their strategies to prosper through the current economic volatility,” added Hamed Ali, chief executive of Nasdaq Dubai.