Ajman Bank Lists $300 Million Perpetual Sukuk on Nasdaq Dubai

Nasdaq Dubai has welcomed the listing of a $300 million Additional Tier 1 perpetual sukuk issued by Ajman Bank, marking the UAE lender's first capital securities transaction. Structured under a Mudaraba arrangement and issued on a perpetual, non-call 5.5-year basis, the instrument carries a profit rate of 6.50% and is designed to strengthen the bank's regulatory capital base while diversifying its funding sources. The deal attracted strong investor demand, with the order book peaking at more than $500 million, representing roughly 1.7 times oversubscription excluding interest from the joint lead managers. It builds on the bank's inaugural senior sukuk issuance in the prior year and reflects its continued engagement with capital markets. With the listing, Ajman Bank now has $800 million of sukuk listed on Nasdaq Dubai. The transaction also reinforces the exchange's standing as one of the world's leading venues for Islamic debt, where the total value of outstanding sukuk listed has reached roughly $98 billion. Additional Tier 1 instruments count toward a bank's core capital buffers, giving lenders more capacity to absorb losses and support lending, and the successful sale signals continued investor appetite for UAE bank capital despite regional geopolitical tensions.