Sharjah Lists US$200 Million Sukuk On Nasdaq Dubai

Image Credit: WAM.AE

The Emirate of Sharjah today listed a US$200 million Sukuk on Nasdaq Dubai, bringing the total value of Sukuk listed in Dubai to $67.06 billion.

According to a press release issued on the Nasdaq website, Nasdaq Dubai’s new Sukuk listings in 2020 now total US$2.9 billion. Its new Sukuk listings in all of 2019 totalled $14.15 billion, an annual record high for the exchange and 18 per cent more than $11.99 billion in 2018.

A total of 44 per cent of Nasdaq Dubai’s Sukuk listings by value are from UAE issuers, with 56 per cent from overseas issuers. The exchange also noted that it is strengthening its programme of outreach to existing and potential issuers in the Sukuk sector, in the Middle East and globally, in order to foster collaboration and synergies in the Sharia-compliant financing sector.

Earlier this month, Islamic Development Bank (IsDB) listed US$2 billion Sukuk with Nasdaq Dubai. The five-year Sukuk is the largest by value to be listed on the exchange by the bank.

Dubai is one of the largest centres globally for Sukuk listings by value. According to Standard & Poor’s, Global Sukuk issuance increased to US$162 billion last year, which was up 26 per cent from US$129 in 2018.

To report this post you need to login first.