Nasdaq Dubai Welcomes $2.35 Billion Sukuk Issuances by the Republic of Indonesia

In a significant move that further cements Dubai's position as a global hub for Sukuk listings, Nasdaq Dubai has welcomed three new Sukuk issuances by the Republic of Indonesia, amounting to USD 2.35 billion.

Nasdaq Dubai Welcomes $2.35 Billion Sukuk Issuances by the Republic of Indonesia

Summary

Nasdaq Dubai has listed three new Sukuk issuances from the Republic of Indonesia, totalling USD 2.35 billion. This move strengthens Dubai's standing as a leading center for Sukuk listings and highlights the growing economic ties between Dubai and Indonesia.

Dubai, UAE – July 10, 2024 – In a landmark event, Nasdaq Dubai has welcomed three new Sukuk issuances from the Republic of Indonesia, amounting to USD 2.35 billion. This development underscores Dubai's stature as the world's leading center for Sukuk listings, which now total USD 96.39 billion. The Republic of Indonesia, through Perusahaan Penerbit SBSN Indonesia III, has issued these Sukuk under its USD 35 billion Trust Certificate Issuance Programme.

The three Sukuk issuances include USD 750 million Trust Certificates due 2029, USD 1 billion Trust Certificates due 2034, and USD 600 million Green Sukuk due 2054. The successful listing of these Sukuk solidifies Indonesia's position as one of the leading Sukuk issuers on Nasdaq Dubai, with a total of 20 listings amounting to USD 24.1 billion.

Dubai continues to lead the global Sukuk market, with the total value of debt listed on Nasdaq Dubai reaching USD 134.1 billion, of which Sukuk account for USD 93.89 billion. Additionally, Nasdaq Dubai is at the forefront of ESG-related listings, with green issuances totaling USD 19.7 billion out of the USD 29.75 billion in ESG-related issuances.

To commemorate this occasion, H.E. Husin Bagis, Ambassador of the Republic of Indonesia to the UAE, rang the market opening bell alongside Mr. Eko NM Saputro, Finance Attaché at the Indonesian Embassy in Abu Dhabi, and Hamed Ali, CEO of Nasdaq Dubai and DFM. H.E. Husin Bagis remarked, 'We are honored to witness the listing of the new three series of Indonesia Global Sukuk. This transaction attracts interest from diverse investor types and geography, showcasing robust investment appetite and market confidence for Indonesia given the Republic’s strong economic fundamentals. The 30-year tranche was a green series and showed evidence of the Republic’s dedication and long-term commitment to green and sustainable financing to combat the impact of climate change.'

Hamed Ali, CEO of Nasdaq Dubai and DFM, added, 'We are pleased to welcome the Republic of Indonesia’s latest Sukuk listings on Nasdaq Dubai. These listings not only highlight the importance of Dubai as a hub for Islamic finance but also strengthen the economic ties between the UAE and Indonesia. Moreover, the demand for these issuances demonstrates the confidence that global investors have in our market, reflecting Nasdaq Dubai's commitment to providing a robust platform for both Sukuk issuers and investors.'

Given the strong fundamentals and the expanding role of Dubai as a global financial hub, investors may find it prudent to hold their positions in Dubai Financial Market PJSC. The company's strategic initiatives and its pivotal role in the Sukuk market make it a promising entity in the long term.

Source

Press release - Nasdaq Dubai welcomed Three New Sukuk Issuances by the Republic of Indonesia Totalling USD 2.35 Billion

Summary

Nasdaq Dubai has welcomed three new Sukuk issuances by the Republic of Indonesia, totaling USD 2.35 billion. This listing enhances Dubai's position as the world's leading center for Sukuk listings, with a total value of USD 96.39 billion. The Republic of Indonesia now has 20 Sukuk listings on Nasdaq Dubai, amounting to USD 24.1 billion. The new Sukuk include USD 750 million due in 2029, USD 1 billion due in 2034, and USD 600 million due in 2054, which is a Green Sukuk. The total value of debt listed on Nasdaq Dubai is USD 134.1 billion, with Sukuk making up USD 93.89 billion. Nasdaq Dubai also leads in ESG-related listings, with green issuances totaling USD 19.7 billion out of USD 29.75 billion in ESG-related issuances. The listing was celebrated with a market opening bell ceremony attended by H.E. Husin Bagis, Ambassador of the Republic of Indonesia to the UAE, and Hamed Ali, CEO of Nasdaq Dubai and DFM. The event highlighted the strong economic ties between Dubai and Indonesia and the confidence global investors have in the market.

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