Friday, 16 March 2018

Sharjah lists US$1 billion sukuk on Nasdaq Dubai

Nasdaq Dubai has welcomed the listing today of a US$1 billion sukuk issued by the Emirate of Sharjah, UAE.

This is the first sovereign sukuk to be issued in the GCC in 2018, as well as the Emirate of Sharjah’s third and largest sukuk listing on the exchange.

The 10-year sukuk follows previous sukuk listings by the Emirate on Nasdaq Dubai of US$750 million and US$500 million in 2014 and 2016 respectively.

The latest listing raises the total value of sukuk listed in Dubai to US$56.5 billion, the largest amount of any listing centre in the world. A total of US$18.75 billion, amounting to 35% of Nasdaq Dubai’s sukuk listings, is from sovereign issuers.