Nasdaq Dubai Lists Three Sukuk Issuances By Indonesia Totalling US$2.75 Billion

Nasdaq Dubai has announced the listing of three Sukuk issuances from Indonesia, totalling US$2.75 billion. This is part of Indonesia's US$45 billion Trust Certificate Issuance Programme. In 2024, this marks Indonesia's fourth successful entry into the US dollar debt capital market, making it the only Asian sovereign to achieve this feat. The consistent investor interest in these issuances highlights their strong appeal.

The newly listed Sukuk tranches include US$1.1 billion with a 5.00% yield due in 2030, US$900 million with a 5.25% yield due in 2034, and US$750 million with a 5.65% yield due in 2054. These listings bring the total value of Sukuk listed in Dubai to US$98.9 billion, solidifying Dubai's status as a leading global hub for Sukuk issuances.

With these latest listings, Indonesia has become one of the largest Sukuk issuers on Nasdaq Dubai. The total value of Indonesia's listed Sukuk on the exchange has now reached US$24.6 billion across 21 listings. This growth underscores Indonesia's significant role in the Islamic finance market.

To mark this occasion, Husin Bagis, Ambassador of Indonesia to the UAE, rang the market opening bell alongside Eko NM Saputro, Finance Attaché at the Indonesian Embassy in Abu Dhabi, and Hamed Ali, CEO of Nasdaq Dubai and DFM.

"The three Sukuk issuances by the Republic of Indonesia represent a remarkable achievement," said Husin Bagis, Ambassador of Indonesia to the UAE. "Despite global financial challenges, the government successfully entered the market, attracting interest from a diverse range of investors across geographies."

This issuance achieved an oversubscription rate of 1.8 times, indicating strong interest from global investors and reinforcing confidence in Indonesia’s economic trajectory.

Partnership Between Indonesia and Dubai

Hamed Ali, CEO of Nasdaq Dubai and DFM, commented on this development: "We welcome the latest Sukuk listings by Republic of Indonesia on Nasdaq Dubai." He emphasised that this achievement highlights the strong partnership between Indonesia and Dubai while reaffirming Nasdaq Dubai’s position as a premier global hub for Islamic finance.

The new listings reflect international investors' confidence in both Indonesia's economic fundamentals and Nasdaq Dubai's reliability as a marketplace. The exchange remains committed to supporting issuers and investors alike while fostering growth and innovation within global Islamic finance.

With inputs from WAM