Sharjah Islamic Bank (SIB) has officially closed its Dh2.59 billion rights issue, marking a significant milestone as the offering was oversubscribed by 3.2 times. The capital raise drew an impressive Dh8.3 billion in total subscriptions, a testament to the strong trust investors place in the bank’s long-term growth strategy despite the current climate of global market volatility. Notably, the Government of Sharjah participated fully in its entitlement, while other shareholders and investors drove demand for the remaining shares to over 4.5 times the available amount. With international investors accounting for roughly 55% of the total demand, this transaction stands as the second-largest rights issue on the Abu Dhabi Securities Exchange in the last two decades.

Leadership at the bank expressed immense gratitude for the widespread participation, noting that the outcome reflects the broader strength and stability of the UAE’s financial sector. SIB Chairman Abdulrahman Alowais highlighted that the overwhelming response validates the bank’s resilient business model and the country's status as a premier global investment hub. CEO Mohamed Abdalla added that this fresh influx of capital provides the bank with a robust foundation to pursue strategic priorities, better support its customers, and ensure sustainable, long-term value for shareholders. Emirates NBD Capital served as the lead manager for this successful financial maneuver, which reinforces SIB’s competitive position moving forward.