Nasdaq Dubai is thrilled to announce the listing of three new Sukuk issuances from Indonesia, totaling an impressive $2.35 billion. This addition bolsters Dubai’s position as the top global hub for Sukuk listings, bringing the total value of Sukuk on the exchange to $96.39 billion.
These Sukuk issuances, part of Indonesia’s $35 billion Trust Certificate Issuance Programme, include:
- $750 million Trust Certificates due 2029
- $1 billion Trust Certificates due 2034
- $600 million Green Trust Certificates due 2054
This achievement highlights Indonesia’s growing presence in the Sukuk market, now with $24.1 billion across 20 listings on Nasdaq Dubai. The Green Sukuk tranche, in particular, emphasizes Indonesia’s dedication to sustainable financing and tackling climate change.
Celebrating Economic Partnership
To mark this occasion, a special market opening bell ceremony was held. Husin Bagis, the Ambassador of the Republic of Indonesia to the UAE, and Eko NM Saputro, Finance Attaché at the Indonesian Embassy in Abu Dhabi, joined Hamed Ali, CEO of Nasdaq Dubai and DFM, for the celebration.
Ambassador Bagis expressed his delight, saying, “We are pleased with the listing of these new Sukuk series. The transaction has attracted a diverse range of investors, reflecting strong confidence in Indonesia’s economic fundamentals. The Green Sukuk tranche, in particular, showcases our commitment to sustainable financing.”
Hamed Ali highlighted the importance of these listings for Dubai’s Islamic finance sector, adding, “Indonesia’s Sukuk on Nasdaq Dubai underscores our role as a major hub for Islamic finance. It also strengthens the economic ties between the UAE and Indonesia and showcases the confidence global investors have in our market.”
Nasdaq Dubai’s Leading Role in Islamic and Green Finance
The total value of debt listed on Nasdaq Dubai has now reached $134.1 billion, with Sukuk contributing $93.89 billion. The exchange continues to lead in ESG-related listings, with green issuances totaling $19.7 billion out of $29.75 billion in ESG-related listings.
The successful listing of Indonesia’s Sukuk on Nasdaq Dubai reaffirms the exchange’s commitment to providing a robust platform for both issuers and investors, supporting the growth of Islamic and green finance globally.
Photo source: Google
By: Montel Kamau
Serrari Financial Analyst
11tth July, 2024
