"Capital Bank"... The first Jordanian bank to list loan bonds on Nasdaq Dubai
Capital Bank, a subsidiary of the Capital Bank Financial Group operating in Jordan and a number of countries in the region, rang the opening bell of the trading session on Nasdaq Dubai, after it succeeded in listing $100 million perpetual loan bonds issued by the bank.
Rima Shaaban, Director of Private Banking and Wealth Management at Capital Bank of Jordan, rang the opening bell of trading, in the presence of the CEO and members of the group's executive management.
This is the first issuance of loan bonds issued by a Jordanian bank on the region's international financial exchange, as Dubai is the largest listing center for US dollar debt instruments in the Middle East.
unique stock exchange
Basem Khalil Al Salem, Chairman of the Board of Directors of Capital Bank Group, said: “We are proud of our success in listing loan bonds on Nasdaq Dubai, which is a unique global platform due to its high-level listing environment and regulatory rules, which gave (Capital Bank) a strong presence. This will consequently lead to closer ties with investors in both the UAE and the Arab Gulf region.”
Al-Salem expressed his thanks to the investors who invested in the listing of the loan bonds, which reflects their great confidence in Capital Bank’s strategy and its ability to promote and sustain growth, through its innovative banking services to individuals and companies alike.
positive performance
For his part, Nasdaq Dubai Chairman, Abdul Wahed Al Fahim, said that Nasdaq Dubai recorded a very positive performance during 2021, which is considered the best in its history in terms of the number and value of new bonds listed.
He added: “We are pleased to put the world-class listing system provided by the stock exchange at the service of leading institutions regionally and globally, including the Capital Bank of Jordan, to achieve its goals in terms of collecting liquidity and strengthening links with the investment community.”
expansion plans
In turn, the CEO of "Capital Bank", Daoud Al-Ghoul, said that the bank plans to use the proceeds of this issuance to support the capital base of the "Capital Bank Group", and enable it to move forward with the implementation of its expansion plans, especially after the opening of the first branch of the National Bank of Iraq in Saudi Arabia. In addition to the digital transformation plans, he explained that this version, which came within the requirements of “Basel III”, aims to attract a diverse base of investors from the region, and for this reason, the Nasdaq Dubai Stock Exchange was chosen, which includes a broad and broad base of investors.
strong connections
In the same context, Hamed Ali, CEO of Nasdaq Dubai and the Dubai Financial Market, said: “We are pleased to welcome the listing of (Capital Bank) bonds in a first-of-its-kind move by one of the leading Jordanian institutions, which reflects the strong links between the capital markets in the UAE and Jordan. It indicates the great prospects for similar listings by other Jordanian and regional institutions to benefit from the expertise and the distinguished infrastructure provided by the capital markets in Dubai.”
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