Sharjah Islamic Bank successfully completes sale of all treasury shares

Sharjah Islamic Bank (SIB) announced the successful sale of all its treasury shares, amounting to 167.67 million shares, representing 5.18 percent of the Bank’s total share capital.

The sale was completed shortly after the announcement of SIB’s third-quarter financial results and attracted strong demand from investors, reflecting growing confidence in the Bank’s solid performance and robust financial position.

Mohamed Abdalla, CEO of Sharjah Islamic Bank, stated that the strong investor interest in SIB’s shares underscores confidence in its financial strength and sustainable growth strategy, adding that the positive third-quarter results highlight the Bank’s operational efficiency and its continued success in generating strong returns for shareholders, while reinforcing its leading position in the Islamic banking sector.

Mohamed Abdalla further noted that this step is part of the Bank’s ongoing efforts to broaden and diversify its shareholder base, enhance trading activity and liquidity in its shares, and further strengthen its leadership in the Islamic banking industry both locally and regionally.

WAM