BE Magazine - August 2026

Ajman Bank LISTS $300MLN AT1 SUKUK ON NASDAQ DUBAI Ajman Bank has listed a $300 mil- lion Additional Tier 1 (AT1) perpetual sukuk on Nasdaq Dubai, marking its first capital securities issuance and strengthening its regulatory capital base. The perpetual non-call 5.5-year sukuk was structured under a mu- daraba arrangement and carries a profit rate of 6.5%, the bank and Nasdaq Dubai said. The transaction attracted strong in- vestors demand with orderbook peaked at over $500 million, exclud- ing joint lead manager interest, rep- resenting approximately 1.7 times oversubscription. Geographically, 89% of the Additional Tier 1 Perpet- ual Sukuk was allocated to investors from the Mena region, with the re- maining 11% allocated to interna- tional investors across the UK, Europe and Asia. Commemorating the listing, Mustafa Al Khalfawi, the CEO of Ajman Bank, rang the market-opening bell at Nas- daq Dubai in the presence of Hamed Ali, Chief Executive Officer of Nas- daq Dubai and Dubai Financial Mar- ket (DFM). Welcoming the listing, Ali said: “The continued demand for sukuk reflects their important role in supporting the capital requirements of financial in- stitutions across the region. The list- ing of Ajman Bank's inaugural Additional Tier 1 Perpetual Sukuk re- inforces Nasdaq Dubai's role in pro- viding issuers with access to a broad regional and international investor base.” The proceeds will support Ajman Bank's capital position and diversify its funding sources, building on the bank's inaugural senior sukuk issued last year. Al Khalfawi said: “We are pleased with the successful issuance and list- ing of our inaugural Additional Tier 1 Perpetual Sukuk on Nasdaq Dubai, which marks another important mile- stone in Ajman Bank’s capital mar- kets journey.” “The strong response from investors reflects the confidence placed in Ajman Bank’s strategy, financial strength, and the opportunities pre- sented by the UAE’s dynamic econ- omy. This transaction strengthens our capital position, diversifies our fund- ing sources, and supports our contin- ued focus on sustainable growth while creating long-term value for our stakeholders,” he stated. The listing increases the value of Ajman Bank's sukuk listed on Nas- daq Dubai to $800 million, he added. Nasdaq Dubai said the exchange now hosts $98 billion in outstanding sukuk listings, while the total value of listed debt securities has exceeded $140 billion across 174 listings. the BANKING EXECUTIVE 56 ISSUE 212 AUGUST 2026