The Nasdaq Dubai stock exchange welcomed the listing of $ 200 million Sukuk by GFH Financial Group.
According to a statement issued yesterday, GFH will use the proceeds of the sukuk to support its balance sheet and diversify its income, as this is the second listing of the group in "Nasdaq Dubai", after its first listing of $ 300 million in February this year.
The total value of Sukuk listings in Dubai so far is $ 64.5 billion, while the share of UAE issuers in this value is 44%, while 56% of them belong to different issuers from around the world.
The CEO of the GFH Financial Group, Hisham Al-Rayes, said: “As we support our activities as a major regional and international financial group following the recent successful capital increase, we are pleased to expand our relationships with investors through (NASDAQ Dubai).” .
He added that «given the stock market’s global potential and its high standards in regulation, it provides valuable support for our strategy aimed at positive engagement with market participants and maintaining their support, for the growth and development of our group.
For his part, Hamid Ali, CEO of «NASDAQ Dubai» said, “The Stock Exchange provides the GFH Group and other Sukuk issuers with excellent links with local and international investors, in addition to the distinguished global presence.” He added, "We look forward to welcoming more listings by international issuers to support their financing requirements, in conjunction with developing their strategies that aim to achieve prosperity with the current economic fluctuations."