Islamic Finance Retail Banking Uncategorized

First Abu Dhabi Bank raises $500m through Islamic bond

January 11, 2023

By News Team

First Abu Dhabi Bank, the UAE’s largest lender by assets, has raised $500 million through a sukuk or Islamic bond, marking the first global sukuk issuance in 2023. The five-year sukuk was priced at 90 basis points over the US treasury rate which is the equivalent of a profit rate…