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islamic financeJune 7, 2022

Indonesia lists $3.25b Sukuk on Nasdaq Dubai


Nasdaq Dubai on Monday welcomed the listing of two Sukuk tranches issued by the Government of Indonesia, with a total value of $3.25 billion. The two tranches comprise $1.75 billion five-year Trust Certificates with a 4.40% yield and $1.5 billion 10-year Trust Certificates with a 4.70% yield.

The Government of Indonesia is one of the largest Sukuk issuers on Nasdaq Dubai, with the new listings increasing the total value of Sukuk listed by the Government on Nasdaq Dubai to $22 billion. The listings further strengthened Dubai’s position as one of the largest centers for Sukuk listings globally, with a total listed value of $80.9 billion.

Mohamed Hadi Al Hussaini, Minister of State for Financial Affairs, recently rang Nasdaq Dubai’s market-opening bell to celebrate the listing and circulation of Dhs.5 billion as the first Dirham-denominated treasury bonds issued by the UAE Federal Government acting through the Ministry of Finance.

The issuance is part of an ambitious strategy that includes a series of treasury bond issuances to develop the fixed income market in the UAE by providing investors with investment opportunities in sovereign issuances and a proper gauge of yield curve of investments in debt instruments.

Nasdaq Dubai is the international financial exchange serving the region between Western Europe and East Asia. It welcomes regional as well as global issuers that seek regional and international investment. The exchange currently lists shares, derivatives, Sukuk (Islamic bonds), conventional bonds and Real Estate Investment Trusts (REITS). The majority shareholder of Nasdaq Dubai is Dubai Financial Market with a two-thirds stake. Borse Dubai owns one third of the shares. The regulator of Nasdaq Dubai is the Dubai Financial Services Authority.

gulftoday