Home Islamic Conventional bond, sukuk listings hit $77.47b on Nasdaq Dubai

Conventional bond, sukuk listings hit $77.47b on Nasdaq Dubai

The total value of conventional bonds and sukuk listed on Nasdaq Dubai continued to grow, reaching $ 77.47 billion (Dh284.3 billion) with local entities taking the lead.
A press statement issued said that conventional bonds listed on the bourse totalled $10.08 billion after Dubai’s largest bank, Emirates NBD, listed a $1 billion bond on the equity derivative exchange. Dubai is already the largest centre in the world for listed Sukuk by value at $59.39 billion. A statement issued by the two entities said that Emirates NBD is the largest conventional bond issuer on the exchange with eight issuances valued at $5.28 billion Abdul Wahed Al Fahim, chairman of Nasdaq Dubai, said that the bourse is looking forward to further bond listings from a range of private and public sector issuers.
“Our exchange infrastructure and the global visibility that we provide are well positioned to support Emirates NBD, as the bank further develops its mission as a major provider of financial services to corporate and individual clients. We look forward to strengthening our longstanding relationship with the Emirates NBD Group, whose activities on Nasdaq Dubai cover equities brokerage services as well as issuance,” said Hamed Ali, CEO of Nasdaq Dubai. On Tuesday, Hesham Abdulla Al Qassim, vice-chairman and managing director of Emirates NBD, rang the market-opening bell at Nasdaq Dubai to mark the listing of $1 billion conventional bond.
“As we make use of long-term funding opportunities to further develop our banking services for businesses and individuals, our strong links with Nasdaq Dubai provide us with a high international profile and excellent regulatory framework for our bonds.—Agencies