The Philippines selected Nasdaq Dubai to list its inaugural sukuk valued at $1 billion of Trust Certificates due in 2029. This listing confirms Nasdaq Dubai’s position as a premier global venue for financial listings and highlights the confidence in its advanced platform, catering to prominent regional and global issuers.
The total value of sukuk listings on Nasdaq Dubai has now reached $85.11 billion, a significant milestone in the exchange’s journey to become a major centre for sukuk issuances, further solidifying its importance in the Islamic finance market. Dubai aims to establish itself as a key hub for the Islamic economy, with $87.61 billion in sukuk listings, aligning with the government’s vision.
“The listing of the ROP’s maiden sukuk issuance in Nasdaq Dubai affirms the Philippine Government’s commitment to further its ties with the Gulf Cooperation Council,” said Secretary Benjamin E. Diokno of the Republic of the Philippines’ Department of Finance. “This marks a significant step towards enhancing the Islamic finance market in the Philippines, bearing in mind its importance in unlocking the potential of Southern Philippines and in the deepening of economic ties with the Arab world.”
With a total debt issuance value of $127.41 billion, including $42.30 billion in bond listings and $85.11 billion in sukuk issuances, Nasdaq Dubai strengthens its position as a leading exchange for fixed-income listings.
Nasdaq Dubai remains committed to fostering economic growth, connecting issuers with diverse investors, and contributing to the global development of Islamic finance.
