Emirate of Sharjah lists $200m sukuk on Nasdaq Dubai

Sharjah’s sukuk listings in all of 2019 totalled $14.15bn, which was a record high annually for the exchange

Emirate of Sharjah lists $200m sukuk on Nasdaq Dubai
Nasdaq Dubai
Emirate of Sharjah lists $200m sukuk on Nasdaq Dubai

The emirate of Sharjah has listed a $200m sukuk on Nasdaq Dubai, bringing the total value of sukuk listed in Dubai to $67.06bn.

Nasdaq Dubai’s sukuk listings in 2020 total $2.9bn, state-run news agency, Wam, reported.

Sharjah’s sukuk listings in all of 2019 totalled $14.15bn, which was a record high annually for the exchange, and corresponded to an 18% year-on-year increase compared to $11.99bn in 2018.

UAE issuers account for a 44% of Nasdaq Dubai’s sukuk listings by value.

The exchange 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.

Comparatively, global sukuk issuance has increased to $162bn in 2019, up 25.5% percent from $129bn in 2018, according to Standard & Poor’s.

Sharjah’s latest $200m sukuk was listed on 19 March, 2020.

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