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Nasdaq Dubai achieves record year as outstanding sukuk value tops $100 billion
Since inception, Nasdaq Dubai has hosted more than $245 billion in cumulative bonds and Sukuk issuances, including $177 billion in Sukuk
- PUBLISHED: Mon 16 Feb 2026, 4:40 PM UPDATED: Mon 16 Feb 2026, 11:47 PM
Nasdaq Dubai attracted a record number of sukuk listings in 2025 as the total value of outstanding debt securities listed across Dubai Financial Market (DFM) and Nasdaq Dubai reached $150.9 billion, with Nasdaq Dubai accounting for $146.1 billion of the total.
This was supported by sustained issuance activity from regional and international issuers and continued global investor demand for Sharia-compliant debt instruments.
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The exchange’s Sukuk market has expanded significantly over the past decade, with the value of outstanding listings increasing eightfold since 2013, from $12.6 billion to more than $100 billion.
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Since inception, Nasdaq Dubai has hosted more than $245 billion in cumulative bonds and Sukuk issuances, including $177 billion in Sukuk.
The growth aligns with the UAE’s National Strategy for Islamic Finance and Halal Industry, which targets Islamic banking assets of Dh2.56 trillion and aims to increase Sukuk listings to more than Dh660 billion domestically and Dh395 billion internationally by 2031.
Record activity in 2025.
In 2025, Nasdaq Dubai recorded $30.6 billion in new debt listings across 60 issuances, marking record levels of strong and diversified listings activity.
Debuts from Ajman Bank, Omniyat, Mashreq, China Development Bank, and the New Development Bank, alongside repeat issuances under established programs, further strengthened the exchange’s continued appeal to sovereign, supranational, financial, and corporate issuers.
Sovereign and government-related issuers continued to represent a significant share of activity during the year.
Issuances by the Republic of Indonesia, the UAE Federal Government, and the governments of Ras Al Khaimah and Sharjah reinforced Dubai’s standing as a trusted gateway for global capital flows.
Corporate and financial institution issuers also listed a diverse range of instruments, spanning conventional bonds, Sukuk, Additional Tier 1 capital securities, and sustainability-linked structures, highlighting the depth and flexibility of Nasdaq Dubai’s fixed income market.
Nasdaq Dubai advanced its position as a regional leader in sustainable finance during 2025. By year-end, the total outstanding value of ESG-linked debt instruments listed on the exchange reached $30.08 billion across 41 issuances.
This included $18.38 billion in green bonds across 27 issuances; $9.05 billion in sustainability bonds across 9 issuances; $2.55 billion in sustainability-linked bonds across 4 issuances; and a $100 million blue bond across 1 issuance.
Abdul Wahed Al Fahim, chairman of Nasdaq Dubai, said, "2025 has been a milestone year for Nasdaq Dubai. Surpassing USD 100 billion in outstanding Sukuk listings and achieving record levels of debt issuance reflects the strong confidence placed in our market by issuers and investors worldwide. These milestones underscore Dubai’s position as a trusted, globally connected hub for Islamic finance, fixed income, and sustainable investment.”
Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM), said, "Crossing $100 billion in outstanding Sukuk listings is a landmark achievement for Nasdaq Dubai and reflects the strong and sustained confidence of international and domestic issuers in our market.
He also added that "This momentum was supported in 2025 by USD 30.6 billion in new debt listings across 60 issuances, underscoring our role as a leading international listing venue for Sukuk and fixed income instruments. As we look ahead, our focus remains on deepening global connectivity, expanding multi-currency and ESG Sukuk offerings, and attracting new issuers from emerging and frontier markets.”
