By Staff writer
Listing support Dubai's ambition to become the global capital of the Islamic economy
Nasdaq Dubai has welcomed the listing of two sukuk issued by the government of Indonesia with a total value of $2.5 billion.
The total nominal value of sukuk currently listed on Dubai's exchanges has now reached $42.31 billion, strengthening its position as the largest centre globally for Islamic bond listings, a statement said.
The listings support the ambition of Dubai to become the global capital of the Islamic economy under an initiative launched by Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President and Prime Minster, and Ruler of Dubai.
Bambang Bodjonegoro, the Indonesian Minister of Finance, said: "Our latest sukuk issuances confirm Indonesia's commitment to supporting the Islamic capital markets, and our choice of Nasdaq Dubai for listing provides us with close links to regional and international investors.
"We look forward to issuing further Sukuk in due course under our 2012 Trust Certificate Issuance Program, providing further sources for government infrastructure development financing as well as new opportunities for investors around the world."
Essa Kazim, governor of Dubai International Financial Centre and secretary general of Dubai Islamic Economy Development Centre, added: "These substantial listings confirm the international reach of Dubai's Islamic capital markets as the emirate accelerates its expansion as the gobal capital of the Islamic Economy.
"Our expanding relationship with Indonesia, the world's most populous Muslim country, strengthens the development of the financial infrastructure of both countries for the benefit of their economies and citizens."
The latest two sukuk listings by the Indonesian government bring its total sukuk listings on the exchange to $8.5 billion, following its listing last year of four sukuk with a total nominal value of $6 billion.
Hamed Ali, chief executive of Nasdaq Dubai, said: "We are committed to providing a responsive and flexible listing framework that meets the needs of sukuk issuers, including enhanced listing procedures that meet their commercial needs. We aim to support our issuers on every level, from regulatory excellence to administrative reliability and regional and global visibility."
Nasdaq Dubai is the largest exchange in the world for sukuk listings at $39.56 billion while Dubai Financial Market has sukuk listings of $2.75 billion.For all the latest market news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.