Emirates NBD becomes a global leader in arranging USD Sukuk

Press release

Published July 7th, 2014 - 09:09 GMT

Al Bawaba

Emirates NBD, the leading banking group in the region, has announced that its Investment Bank is ranked as the leading arranger of USD Sukuk globally. According to league tables published by Bloomberg, from January 2014 to June 2014, Emirates NBD Investment Bank arranged 10 USD Sukuk issuances aggregating to USD 5.4 Billion, which is the highest number of USD Sukuk issuances led by any arranger during this period.

Attributing this landmark achievement to the vision of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to establish Dubai as the capital of Islamic Economy, HH Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Emirates NBD said: “Emirates NBD Investment Bank becoming a leading arranger of USD Sukuks worldwide is a milestone achievement, which will take Dubai one step closer to its vision of becoming the world capital of the Islamic economy. Emirates NBD is proud to have made this small contribution towards accomplishment of this vision.”

Sheikh Ahmed bin Saeed Al Maktoum went on to congratulate the board and management of Emirates NBD Group for continuing to set benchmarks for excellence, and wished them the best in surpassing such achievements in the future. Sheikh Ahmed also thanked Emirates NBD customers for being a constant source of inspiration behind the bank’s achievements.

Commenting on this achievement, Shayne Nelson, Group CEO Emirates NBD said, “We believe this achievement confirms Dubai’s potential to further establish its standing as a global hub for Islamic finance, and underpins its capabilities in offering superior Islamic finance solutions. This achievement also reflects the bank’s focus in not only promoting Dubai’s status as a leading financial hub, but also aligning with Dubai’s Islamic hub strategy”.

Shayne Nelson added, “I would like to take this opportunity to recognize the efforts of the Emirates NBD Investment Banking team led by Mohammad Kamran Wajid, CEO Emirates NBD Capital, and thank them for their valuable contributions towards achieving this success”

This achievement is the latest in a series of prestigious recognitions for Emirates NBD Investment Bank, which has also recently been named the “Best Regional Bank of the Year” by IFR Middle East (Thomson Reuters) and “Best Debt House” by EMEA Finance.

Widely recognized as the region’s leading Investment Banking house, Emirates NBD’s award winning Investment Banking franchise offers a diversified range of products and solutions for clients from across the globe. It is also a significant part of Emirates NBD, the UAE’s flagship bank, which continues to play its role in the growth and development of the economy of Dubai and the UAE.

Background Information

Emirates NBD

Emirates NBD, the leading banking group in the region, was formed on 19 June 1963, when H.H. Late Sheikh Rashid bin Saeed Al Maktoum signed the Charter of Incorporation of the National Bank of Dubai (NBD) which became the first National Bank established in Dubai and the United Arab Emirates (UAE). With the blessings of H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, NBD merged with Emirates Bank International (EBI) on 06 March 2007, to form Emirates NBD, the largest banking group in the region by assets. On 16 October 2007, the shares of Emirates NBD were officially listed on the Dubai Financial Market (DFM). The merger between EBI and NBD to create Emirates NBD, became a regional consolidation blueprint for the banking and finance sector as it combined the second and fourth largest banks in the UAE to form a banking champion capable of delivering enhanced value across corporate, retail, private, Islamic and investment banking throughout the region.