Sharjah Islamic Bank (SIB) has raised $500 million through a five-year sukuk, following strong demand from investors.
The issuance attracted orders worth around $1.3 billion, more than 2.6 times the amount SIB was looking to raise. The sukuk was priced at a final yield of 5.85 per cent, with a spread of 105 basis points over five-year US Treasury yields.
The latest deal marks SIB’s 13th sukuk issuance since the bank entered the international capital markets in 2006.
The strong investor response comes as demand for Islamic financial products remains resilient. Moody’s Ratings expects global sukuk issuance to reach about $280 billion in 2026, broadly in line with last year.
Sukuk issuance reached around $130 billion during the first half of 2026, with strong activity from the corporate sector and a significant increase in short-term deals helping offset weaker long-term issuance from sovereigns and financial institutions.
Moody’s said the longer-term outlook for the sukuk market remains supported by governments’ financing needs, banks looking to diversify their funding sources and growing investor interest in Shariah-compliant financial products.
However, ongoing geopolitical uncertainty in the Middle East continues to create challenges, particularly for green and sustainable sukuk issuance.