Wednesday 30 September 2020 - 7:48:35 am

Emirate of Sharjah lists US$200 million Sukuk on Nasdaq Dubai


DUBAI, 22nd March, 2020 (WAM) -- The Emirate of Sharjah has listed a US$200 million Sukuk on Nasdaq Dubai, bringing the total value of Sukuk listed in Dubai to $67.06 billion.

Nasdaq Dubai’s new Sukuk listings in 2020 now total $2.9 billion. Its new Sukuk listings in all of 2019 totalled $14.15 billion, an annual record high for the exchange and 18 percent more than $11.99 billion in 2018.

A total of 44 percent of Nasdaq Dubai’s Sukuk listings by value are from UAE issuers, with 56 percent from overseas issuers. The exchange noted that it is strengthening its programme of outreach to existing and potential issuers in the Sukuk sector, in the Middle East and globally, in order to foster collaboration and synergies in the Sharia-compliant financing sector.

Global Sukuk issuance increased to $162 billion in 2019, up 26 percent from $129 billion in 2018, according to Standard & Poor’s.

The Emirate of Sharjah’s latest $200 million Sukuk was listed on 19th March 2020.

 

WAM/Nour Salman