Top > News > Articles
Sharjah Islamic Bank Announces Strategic Capital Increase Through Rights Issue

Sharjah Islamic Bank (SIB) has received approval to enhance its capital by launching a strategic rights issue aimed at generating gross proceeds up to Dh2.59 billion.

The planned rights issue will elevate SIB’s issued capital from Dh3,235,677,638 to Dh4,314,236,850 by issuing up to 1,078,559,212 new shares. These shares will be offered at a price of Dh2.40 each, which includes a nominal value of Dh1.00 and a share premium of Dh1.40. This price reflects a 37% discount compared to the closing share price of SIB’s shares on the Abu Dhabi Securities Exchange as of February 13, 2026, the last trading day prior to the AGM invitation being published.

The rights issue is anticipated to benefit both the Bank and its shareholders by enhancing its capacity for significant asset growth, while also keeping pace with evolving regulatory demands. The Bank remains dedicated to delivering strong and sustainable returns.

SIB plans to utilize the net proceeds from the rights issue to reinforce its capital base, exceeding regulatory capital adequacy requirements, extend its balance sheet growth potential, and maintain attractive returns for shareholders.

Abdulrahman Alowais, Chairman of SIB, stated: “This important announcement reflects our long-term commitment to our shareholders and the UAE investor community. We are excited to provide our dedicated shareholders the chance to participate in our ongoing growth and success, aligning with the growth agenda of both the emirate and national governments.”

Mohamed Abdalla, CEO of SIB, commented: “This landmark transaction marks a critical step for SIB, allowing us to accelerate our growth and deliver enhanced value to our shareholders. We remain committed to upholding strong capital foundations and supporting the Bank's sustainable development.”

Emirates NBD Capital PSC has been appointed as the Lead Manager, while Emirates NBD Bank will serve as the Lead Receiving Bank, with SIB acting as the Receiving Bank.

Read More

Advertisement

Advertisement

Recommended
du Reports Stellar Q1 2026 Results with 19.8% Net Profit Surge
du Reports Stellar Q1 2026 Results with 19.8% Net Profit Surge
Business
Fertiglobe Reports Strong Financial Performance in Q4 2025
Fertiglobe Reports Strong Financial Performance in Q4 2025
Business
European Airlines Warn of Severe Disruption in Schengen Entry System
European Airlines Warn of Severe Disruption in Schengen Entry System
Business

Advertisement

Advertisement

CBUAE unveils world-first sovereign financial cloud as digital fintech push picks up pace
CBUAE unveils world-first sovereign financial cloud as digital fintech push picks up pace
Business
EGA posts Dh4.93 billion underlying net profit in 2025
EGA posts Dh4.93 billion underlying net profit in 2025
Business
Oil prices slip about 1.5% on high US crude stocks and US-Iran positivity
Oil prices slip about 1.5% on high US crude stocks and US-Iran positivity
Business
Bitcoin rebounds as liquidations,  ETF inflows spark recovery
Bitcoin rebounds as liquidations,  ETF inflows spark recovery
Business
ChatGPT: Your Ultimate Money-Saving Sidekick for Flights, Budgeting, and Shopping
ChatGPT: Your Ultimate Money-Saving Sidekick for Flights, Budgeting, and Shopping
Business
The Rise of the Middle East as a Global Center of Capital
The Rise of the Middle East as a Global Center of Capital
Business

Advertisement

Advertisement

A Slowdown in Software Deal-Making and IPOs Amid Market Volatility
A Slowdown in Software Deal-Making and IPOs Amid Market Volatility
Business
e& revenues surge 23% in 2025 as CEO Hatem Dowidar to step down
e& revenues surge 23% in 2025 as CEO Hatem Dowidar to step down
Business
Sharjah property market starts 2026 on a high note with record Dh9.3 billion deals in January
Sharjah property market starts 2026 on a high note with record Dh9.3 billion deals in January
Business
India's Trade Deal with the U.S. Raises Doubts Among Economists
India's Trade Deal with the U.S. Raises Doubts Among Economists
Business
Audi S6 e-tron Review: Where quiet luxury meets instant torque
Audi S6 e-tron Review: Where quiet luxury meets instant torque
Business
Common Mistakes to Avoid in Crypto Investing
Common Mistakes to Avoid in Crypto Investing
Business
The Outlook of Dubai's Residential Market in 2026
The Outlook of Dubai's Residential Market in 2026
Business
DAE’s $7b deal to create 1,000+ aircraft leasing giant
DAE’s $7b deal to create 1,000+ aircraft leasing giant
Business
Silver outshines gold, jumps over 3% in early Dubai trade
Silver outshines gold, jumps over 3% in early Dubai trade
Business
US weekly jobless claims increase marginally as labour market stabilises
US weekly jobless claims increase marginally as labour market stabilises
Business
Le Mans Legends: Where History, Speed and Investment Collide
Le Mans Legends: Where History, Speed and Investment Collide
Business

Advertisement

Access Ranking
Is UAE gratuity calculated on basic salary or gross salary?
Lifestyle
Is UAE gratuity calculated on basic salary or gross salary?
The Mind Cafe's Flagship Store to Close, But a Bigger Adventure Awaits
Lifestyle
The Mind Cafe's Flagship Store to Close, But a Bigger Adventure Awaits
Best matcha spots in Dubai: 15 places to try, from classic blends to creamy lattes
News
Best matcha spots in Dubai: 15 places to try, from classic blends to creamy lattes
The Singapore FIRE Guide 2026: Passive Income vs. Portfolio Growth
News
The Singapore FIRE Guide 2026: Passive Income vs. Portfolio Growth
Dubai to Open Applications Under New Shared Housing Regulations Soon
Lifestyle
Dubai to Open Applications Under New Shared Housing Regulations Soon
Cost-of-living special payment: Singaporeans to get up to $600, up from $400 announced in Budget 2026
Lifestyle
Cost-of-living special payment: Singaporeans to get up to $600, up from $400 announced in Budget 2026
The best dining deals you can enjoy right now in Dubai
Lifestyle
The best dining deals you can enjoy right now in Dubai
The Integration of Digital Learning in UAE Schools: A Lasting Change
Main
The Integration of Digital Learning in UAE Schools: A Lasting Change
Discovering the Culinary Delights of Trèsind: A Modern Indian Experience in Dubai
Lifestyle
Discovering the Culinary Delights of Trèsind: A Modern Indian Experience in Dubai
How the US–Iran war could affect Singapore property prices and mortgage rates
News
How the US–Iran war could affect Singapore property prices and mortgage rates
UAE property demand holds firm despite uncertainty
News
UAE property demand holds firm despite uncertainty
Nancy Sinatra Criticizes Trump for Using Frank Sinatra's Music
Entertainment
Nancy Sinatra Criticizes Trump for Using Frank Sinatra's Music
Lost Your Job in the UAE? How Borrowers Can Renegotiate Loan Repayments with Banks
Finance
Lost Your Job in the UAE? How Borrowers Can Renegotiate Loan Repayments with Banks
Amazon Acquires Globalstar to Enhance Satellite Internet Network
Business
Amazon Acquires Globalstar to Enhance Satellite Internet Network
How To Choose The Perfect Nail Salon In Business Bay For You
News
How To Choose The Perfect Nail Salon In Business Bay For You
Light bulb moment: How to lower your utility bills as electricity and gas tariffs increase
Lifestyle
Light bulb moment: How to lower your utility bills as electricity and gas tariffs increase
Motorcyclist Commits to Cover Repair Costs After Heartwarming Encounter
News
Motorcyclist Commits to Cover Repair Costs After Heartwarming Encounter
Islamabad United Secures Victory Over Quetta Gladiators with Dominant Performance
Sports
Islamabad United Secures Victory Over Quetta Gladiators with Dominant Performance
List of the Best Physiotherapy Clinics in Dubai [2026 List]
Healthy
List of the Best Physiotherapy Clinics in Dubai [2026 List]
Buy gold for nearly 70% less? UAE shoppers warned about jewellery scams
Finance
Buy gold for nearly 70% less? UAE shoppers warned about jewellery scams

Advertisement