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New ADIB Global Sukuk Fund raises more than $160m

Gulfbusiness.com logo Gulfbusiness.com 4 days ago Neesha Salian
adib HQ_1 © Motivate Publishing adib HQ_1

Abu Dhabi Islamic Bank (ADIB) has successfully raised more than Dhs587m through the ADIB Global Sukuk Fund, its flagship fund.

The fund offers investors an opportunity to invest in a diversified portfolio of regional and international sukuk instruments. It is designed to capture the opportunities available within the Shariah-compliant universe of sovereign, quasi-sovereign, financial institutions and corporate sukuk, issued locally, regionally and globally.

The funds raised demonstrate significant market appetite for high-quality Sharia-compliant investment products, which the bank specifically intends to cater for going forward.

The fund is suitable for investors seeking regular returns above prevailing cash rates over a medium to long-term investment period.

Michael Gregory Davis, ADIB global head of Wholesale Banking Groups, said: “Our clients are particularly attracted to the fund’s investment grade average rating, low volatility, relatively short duration, the option for regular attractive quarterly income distribution as well as its daily liquidity.”

Last year, ADIB, which has more than Dhs133bn in assets, unveiled ‘Amwali’, the world’s first Islamic digital bank targeting youth between the ages of eight to 18.

Read: Abu Dhabi’s ADIB unveils Islamic digital bank for Generation Z

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