The emirate of Sharjah has listed a $200 million Sukuk on Nasdaq Dubai.
The listing brings the total value of Sukuk listed in Dubai to $67.06 billion, strengthening Dubai's status as one of the largest Sukuk listing centres in the world by value.
Nasdaq Dubai's new Sukuk listings in 2020 now total $2.9 billion. Its new Sukuk listings in all of 2019 totaled $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 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'a-compliant financing sector.
Global Sukuk issuance increased to $162 billion in 2019, up 26 per cent from $129 billion in 2018, according to Standard & Poor's. The emirate of Sharjah's latest $200 million Sukuk listed on March 19, 2020.
- business@khaleejtimes.com
Published: Mon 23 Mar 2020, 6:38 PM
Updated: Mon 23 Mar 2020, 8:39 PM
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