Emirate of Sharjah lists USD 200 million Sukuk on Nasdaq Dubai
The Emirate of Sharjahhas listed a 200 million US dollar Sukuk on Nasdaq Dubai.
The listing brings the total value of Sukuk listed in Dubai to 67.06 billion US dollars, 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 US dollars. Its new Sukuk listings in all of 2019 totaled 14.15 billion US dollars, an annual record high for the exchange and 18% more than 11.99 billion US dollars in 2018.
A total of 44%of Nasdaq Dubai’s Sukuk listings by value are from UAE issuers, with 56% from overseas issuers. The exchange isstrengthening 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 US dollars in 2019, up 26% from 129 billion US dollars in 2018, according to Standard & Poor’s.
The Emirate of Sharjah’s latest 200 million US dollar Sukuk listed on March 19, 2020.