Indonesia Enhances Dubai's Position With $2.35 Billion Sukuk Issuances

Nasdaq Dubai has listed three Sukuk issued by the Republic of Indonesia, totalling US$2.35 billion. These listings fall under Indonesia's US$35 billion Trust Certificate Issuance Programme. This move enhances Dubai's reputation as the top global centre for Sukuk listings, now valued at US$96.39 billion, and strengthens ties between Dubai and Indonesia.

The three Sukuk include US$750 million Trust Certificates due in 2029, US$1 billion Trust Certificates due in 2034, and a Green Sukuk worth US$600 million due in 2054. The successful listing solidifies Indonesia's position as a leading Sukuk issuer on Nasdaq Dubai, with 20 listings amounting to US$24.1 billion.

Husin Bagis, Ambassador of the Republic of Indonesia to the UAE, marked this occasion by ringing the market opening bell. He was joined by Eko NM Saputro, Finance Attaché at the Indonesian Embassy in Abu Dhabi, and Hamed Ali, CEO of Nasdaq Dubai and DFM.

"We are honoured to witness the listing of the new three series of Indonesia Global Sukuk," said Husin Bagis. "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."

Hamed Ali commented on the significance of these listings: "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 economic ties between the UAE and Indonesia."

Green Financing Commitment

The total value of debt listed on Nasdaq Dubai is now US$134.1 billion, with Sukuk amounting to US$93.89 billion. Nasdaq Dubai also leads in ESG-related listings with green issuances totalling USD 19.7 billion out of US$29.75 billion ESG-related issuances.

"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 climate change," added Husin Bagis.

The demand for these issuances demonstrates global investor confidence in Nasdaq Dubai's market platform for both Sukuk issuers and investors.

With inputs from WAM