分类： business

Nasdaq Dubai has announced the successful listing of $500 million Trust Certificates (Sukuk) issued by ICDPS Sukuk Limited, guaranteed by the Islamic Corporation for the Development of the Private Sector (ICD). The ICD, a prominent multilateral financial institution and member of the Islamic Development Bank (IsDB) Group, priced the five-year Reg S senior unsecured Sukuk at 65 basis points over US Treasuries, offering a profit rate of 4.391% paid semi-annually. The issuance witnessed overwhelming investor demand, with order books surpassing $2 billion, reflecting robust market confidence in ICD’s financial stability and developmental objectives. The Sukuk, set to mature in 2030, was issued under the ICDPS Sukuk Limited Trust Certificate Issuance Programme. Leading financial institutions, including Al Rayan Investment, Bank ABC, Dubai Islamic Bank, and HSBC Bank plc, served as Joint Lead Managers and Bookrunners. This marks ICD’s fourth Sukuk listing on Nasdaq Dubai, following previous issuances in 2016, 2020, and 2024. Dr. Khalid Khalafalla, Acting CEO of ICD, emphasized the significance of the oversubscribed issuance, stating that the proceeds will drive private sector growth in member countries while expanding Shariah-compliant financial solutions. Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM), highlighted the transaction as a testament to Dubai’s leadership in Islamic capital markets and its ability to attract diverse investors. With this listing, the total value of Sukuk on Nasdaq Dubai has reached $102 billion, reinforcing its status as a global hub for Islamic finance.

Continental, a DIFC-licensed financial advisory firm, has announced a remarkable 77% growth in premiums, marking a significant milestone in its 30-year legacy in the Middle East. The firm is now poised for its next phase of expansion, driven by a focus on technology, transparency, and trust. To spearhead this growth, Continental has appointed Lyndon D’Silva as Senior Executive Officer (SEO) and Member of the Board. With over 35 years of leadership experience at global institutions such as IBM, Standard Chartered, AIG, Morgan Stanley, and Concentrix, D’Silva brings a unique combination of financial expertise and technological insight to the role. His appointment underscores Continental’s commitment to innovation and long-term growth within the DIFC platform. Akshay Sardana, Managing Director of CFS DIFC Ltd., emphasized the alignment of values and vision with D’Silva, stating that his leadership will drive awareness, inclusion, and innovation across the wealth and insurance sectors. In his new role, D’Silva will oversee strategic direction, client and advisor relationships, and operational excellence, while advancing Continental’s legacy of trust and transparency. D’Silva expressed his enthusiasm for the opportunity, highlighting his goal to build on Continental’s strong foundation and position the firm as a catalyst for regional and global progress. Looking ahead, Continental plans to enhance its digital transformation agenda, modernize internal systems, and streamline client onboarding processes. The firm is also expanding its advisory network and insurer partnerships, ensuring faster and more responsive services for its clients. With these initiatives, Continental aims to consolidate its growth and expand its impact across the region.

Emirates Islamic Bank, a subsidiary of Emirates NBD, has announced the closure of five branches as part of its strategy to optimize its network in response to the growing trend of online banking in the UAE. Mohammed Kamran Wajid, Deputy CEO of Emirates Islamic, emphasized that the move is driven by technological advancements but assured that the bank remains committed to maintaining a physical presence. He stated, ‘We are rationalizing our branches as technology takes over, but we are not eliminating physical locations. We may reinvest the savings into further technological development to enhance customer service.’ The bank, which previously operated 45 branches, plans to complete the closures by the end of the year. Wajid also confirmed that the closures would not result in job losses, highlighting the bank’s focus on talent retention. Emirates Islamic employs over 30,000 people and is the largest financial services employer in the region. The bank reported a record Dh3.2 billion profit before tax for the first nine months of 2025, with total income rising 9% year-on-year to Dh4.5 billion. The UAE’s Islamic banking market, valued at $221 billion in 2024, is projected to grow to $352 billion by 2029, driven by the country’s role as a global financial hub. Wajid noted that the closures involve legacy branches located near Emirates NBD branches, allowing for better resource allocation and customer acquisition. The bank, which boasts a capital adequacy ratio of 18.8%, remains highly liquid and plans to focus on digitization and AI integration to strengthen its competitive edge in the corporate banking sector.

In a groundbreaking move for the UAE’s financial sector, Zand, the nation’s AI-driven digital bank, has launched Zand AED, the country’s first regulated, multi-chain UAE dirham-backed stablecoin on public blockchains. Approved by the Central Bank of the UAE (CBUAE), Zand AED marks a significant step in integrating the national currency into the global digital economy. The stablecoin is fully backed one-to-one by UAE dirham reserves, held in segregated and regulated accounts to ensure complete redemption value. Real-time transparency is maintained through independently audited smart contracts and reserve attestations, ensuring trust and accountability. Available across multiple public blockchains, Zand AED enables fast, borderless settlements and seamless integration for developers, enterprises, and financial institutions. Issued by Zand Trust, a subsidiary of Zand Bank PJSC, the stablecoin is licensed and supervised by the CBUAE and holds a BBB+ rating from Fitch Ratings. Mohamed Alabbar, Chairman of Zand, described the launch as a breakthrough for the UAE, emphasizing its role in advancing the nation’s position as a global leader in financial innovation. Michael Chan, CEO of Zand, highlighted the stablecoin’s potential to bridge traditional and decentralized finance, unlocking next-generation payments, tokenization, and digital asset innovation. With the global stablecoin market projected to reach $3 trillion in the coming years, Zand AED positions the UAE at the forefront of regulated digital finance, offering a secure and future-ready foundation for institutions, Fintechs, and developers operating in one of the world’s most advanced financial ecosystems.