Sukuk & Islamic Products
Dubai is the world’s largest centre for Sukuk listings at USD 49.06 billion, with Nasdaq Dubai the world’s largest single exchange at USD 46.31 billion.More Info
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.
- 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
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