Sharjah, UAE – Bank of Sharjah - One of the leading commercial banks in the UAE, has proudly acted as a Joint Lead Manager in the successful issuance of a US$ 750 million, 10.5-year U.S. dollar-denominated 144A/Reg S Sukuk for the Government of Sharjah, alongside other international and regional banks.

The issuance received strong interest from investors, with a peak order book of US$ 2.6 billion, underscoring the global confidence in the Government of Sharjah’s credit story. The Sukuk was launched with initial price guidance of US Treasuries plus a spread of +175 basis points area, with final pricing at 140 basis points over U.S. Treasuries. This tightening demonstrated the strength of demand from investors, with 34% of total orders coming from outside the MENA region.

Commenting on the successful completion of this deal, Mr. Mohamed Khadiri, CEO of Bank of Sharjah, said: “We are proud to have played a key role in this landmark Sukuk issuance for the Government of Sharjah, reflecting our deep commitment to the Emirate’s financial growth and development. This issuance not only supports Sharjah’s ambitious infrastructure projects but also showcases our dedication to providing innovative financing solutions that align with the needs of our clients and investors.”

He continued: “The strong interest from both local and international investors is a testament to the confidence in Sharjah’s economic stability and fiscal discipline. Our collaborative efforts with esteemed partners have enabled us to effectively structure this Sukuk, ensuring it meets the needs of a diverse investor base while reinforcing Sharjah’s position in the global capital markets.”

“At Bank of Sharjah, we are committed to providing financial solutions that drive economic progress. This Sukuk issuance is an important step in strengthening our support for the Government of Sharjah, and we are excited to continue partnering with them and other key stakeholders to facilitate their growth and development objectives.” Added Khadiri. 

Expressing delight at the demand for the new Sukuk issue, Mr. Damian White, Head of Treasury at Bank of Sharjah, said: “This Sukuk issuance marks a significant milestone in our efforts to further enhance financial collaboration with the Government of Sharjah. The proactive approach taken to engage with global investors reflects the Issuer’s commitment to delivering value and the Bank’s resolve to ensure strong liquidity for the Emirate. By facilitating this transaction, we are not only addressing the financing needs of the government but also showcasing Sharjah's robust economic fundamentals and investment potential.”

For media inquiries, please contact:
Amir AlSalous 
Head of Marketing and Communications, Bank of Sharjah 
+971 562 774433