NASDAQ Dubai welcomes ICD Sukuk and bond
NASDAQ Dubai has welcomed the listing of a 700 million dollar Sukuk and a 300 million dollar conventional bond by the Investment Corporation of Dubai (ICD) on the region’s international stock exchange.
The listing raises the total value of Sukuk listed on Dubai’s exchanges to 21.08 billion dollars. Dubai is the world’s third largest venue for Sukuk listings by value. The total value of conventional bonds listed on NASDAQ Dubai is 6.08 billion dollars.
Hamed Ali, Chief Executive of NASDAQ Dubai, said: “NASDAQ Dubai is delighted to support the ICD’s listings. The exchange provides the ideal venue for issuers in the UAE and beyond seeking an exchange in the heart of the Moslem world that is committed to supporting the Islamic capital markets. The exchange also welcomes conventional bonds, providing the technical framework and the vision to provide issuers and investors with the effective financial infrastructure that they require, including a streamlined and responsive listing process.”
The ICD’s Sukuk and conventional bond listed on NASDAQ Dubai on May 22, 2014 and will mature in 2020 and 2024 respectively.