DUBAI 21 February 2019: Nasdaq Dubai welcomed the listing yesterday of two sukuk by the government of Indonesia, one valued at US$1.25 billion and the other at $750 million.
The listings underline the close relations between the UAE and Indonesia, the world’s most populous Muslim country, as well as Dubai’s growth as the global capital of the Islamic Economy.
Capital raised by the sukuk is intended for projects including sustainable development initiatives. The Indonesian government is the largest sukuk issuer on Nasdaq Dubai by both value and number of listings, with securities now totalling $16.5 billion from 12 issuances.
The total value of all sukuk listed on Dubai’s exchanges has now reached $63.14 billion, the largest amount of any listing centre in the world.
The Arrangers and Dealers for Indonesia’s latest two Sukuk were Deutsche Bank, Dubai Islamic Bank, HSBC, Mandiri Securities and Maybank. The Legal Advisers to the Issuer for the transaction were Clifford Chance and AZP Legal Consultants. The Legal Advisers to the Arrangers and Dealers were White & Case and Assegaf Hamzah & Partners.