Nasdaq Dubai welcomed three Sukuk issuances from Indonesia totaling $2.35 billion, under its $35 billion Trust Certificate Issuance Program. These new listings reinforce Dubai’s position as the world’s leading center for Sukuk listings, with a total value of $96.39 billion. Moreover, they further strengthen the close ties between Dubai and Indonesia.
Indonesia among Nasdaq Dubai’s leading Sukuk issuers
The three Sukuk issuances include:
- $750 million trust certificates due 2029
- $1 billion trust certificates due 2034
- $600 million trust certificates due 2054, which is a green Sukuk
“This transaction attracts interest from diverse investor types and geography, showcasing robust investment appetite and market confidence for Indonesia given the Republic’s strong economic fundamentals,” stated Husin Bagis, Indonesia’s Ambassador to the UAE. “The 30-year tranche was a green series and showed evidence of the Republic’s dedication and long-term commitment to green and sustainable financing to combat the impact of climate change,” he added.
The successful listing of these Sukuk also solidifies Indonesia’s position as one of the leading Sukuk issuers on Nasdaq Dubai. Thus, the country has a total of 20 listings amounting to $24.1 billion.
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Market’s Sukuk reaches $93.89 billion
The total value of debt listed on Nasdaq Dubai reached $134.1 billion. Sukuk make up $93.89 billion of the total. Nasdaq Dubai continues to also lead in ESG-related listings with green issuances reaching $19.7 billion of the $29.75 billion ESG-related issuances.
To celebrate the listings, Husin Bagis rang the market opening bell alongside key figures.
For his part, Hamed Ali, CEO of Nasdaq Dubai and DFM, said: “These listings not only highlight the importance of Dubai as a hub for Islamic finance but also strengthen the economic ties between the UAE and Indonesia. Moreover, the demand for these issuances demonstrates the confidence that global investors have in our market, reflecting Nasdaq Dubai’s commitment to providing a robust platform for both Sukuk issuers and investors.”
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