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16 Jun, 2021Nasdaq Dubai welcomes listing of three Sukuk issuances by the Government of Indonesia with a total value of US$ 3 billion

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Nasdaq Dubai has welcomed the listing of three Sukuk tranches issued by the Government of Indonesia, with a total value of US$ 3 billion. The new listings increased the total value of all Sukuk listed by the Government of Indonesia on Nasdaq Dubai to US$ 19.75 billion.

They also strengthen Dubai’s position as one of the largest centres for Sukuk listings globally, attracting both local and international issuers, with a total listed value of US$ 76 billion.

Hamed Ali, Chief Executive of Nasdaq Dubai and Deputy CEO of DFM, said: "We are pleased to welcome the new listings from the Government of Indonesia, the largest sovereign Sukuk issuer on Nasdaq Dubai. This mounting presence of international issuers clearly underscores Dubai’s active role in promoting Islamic economy, Sharia’a-compliant financial markets as well as supporting sustainable economic development across the world.”

The three Sukuk tranches, listed on 9 June 2021, comprise a US$ 1.25 billion Sukuk at 1.5% yield and a five-year maturity, a US$ 1 billion Sukuk at 2.55% yield and 10 years’ maturity and a US$ 750 million green Sukuk at 3.55% yield and 30 years’ maturity.

The issuances have attracted strong demand from central banks, sovereign wealth funds and insurers, especially in South East Asia and the Middle East, with a combined order book exceeding US$ 10.3 billion.