Sukuk & Islamic Products

Dubai is the world’s largest centre for Sukuk listings at USD 51.21 billion, with Nasdaq Dubai at USD 49.06 billion.

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The exchange intends to expand its role as a global centre for Sukuk listings, in line with the Dubai government's intention to be the international centre of the Islamic economy. 


ADVANTAGES OF LISTING ON NASDAQ DUBAI

  • Streamlined, fast and easy listing process
  • On-exchange trading platform for Sukuk and bonds
  • Unique exposure and access to international and regional investors
  • International regulatory standards, provided by the DFSA
  • Prospectus requirements are based on the EU Prospectus Directive
  • Efficient and transparent mechanism for the disclosure of company information ( CANDI)
  • Sophisticated Central Securities Depository (CSD), clearing and settlement services with links to Euroclear and Clearstream.

LISTING REQUIREMENTS

  • Prospectus in compliance with the DFSA Markets Rules
  • Minimum market capitalisation of USD 2 million
  • Three years audited accounts prepared to an IFRS standard (or other standards acceptable to the DFSA)
  • Appoint Shari’a Supervisory Board, if applicable
  • Provide Shari’a certification, if applicable

View the complete list of Sukuk listed on Nasdaq Dubai. 


TIMELINE

The DFSA aims to review and return comments on the first Prospectus draft within 5 business days of the document being submitted, and each subsequent draft within 3 business days from its submission. The approval of the Prospectus will generally be granted within 1 business day from the date of receipt of a final Prospectus. 

Nasdaq Dubai will look to grant the approval for Admission to Trading within 2 business days of receipt of the final forms and supporting documents, provided all documentation is in order and no additional information is required.


The exchange also aims to admit a range of innovative Islamic instruments in collaboration with regional and international market participant to foster and strengthen this pioneering industry.

These may include:

  • Islamic Funds
  • Islamic Real Estate Investment Trusts (REITs)
  • Islamic Exchange Traded Funds (ETFs)
  • Islamic Structured Securities