41 C
Wednesday, July 24, 2024

“Nasdaq Dubai Celebrates Inaugural Sukuk Listing: Republic of the Philippines Raises USD 1 Billion”

Sukuk Listing In a significant development, Nasdaq Dubai proudly hosts the Republic of the Philippines’ debut Sukuk listing, titled “ROP Sukuk Trust.” The strategic move underscores Nasdaq Dubai’s role as the favored platform for sovereign issuances, securing the Philippines’ position among Asia’s active sovereign debt issuers. The listed Sukuk, valued at USD 1 billion, adds to Nasdaq Dubai’s growing status in global financial listings and reinforces its allure for sovereign debt issuers. This milestone positions Nasdaq Dubai as a global hub for Sukuk issuances, amplifying its influence in the Islamic finance market.

Celebrating Success and Partnership: Sukuk Listing

With a cumulative sukuk issuance value now standing at USD 85.11 billion, Nasdaq Dubai solidifies its pivotal role in the financial landscape. To commemorate this achievement, Secretary Benjamin E. Diokno of the Republic of the Philippines’ Department of Finance and Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM), rang the market opening bell at Nasdaq Dubai. Secretary Benjamin E. Diokno emphasized the Philippines’ commitment to fostering ties with the Gulf Cooperation Council, marking a significant step toward enhancing the Islamic finance market in the country.

Commitment to Growth and Collaboration: Sukuk Listing

Hamed Ali, CEO of Nasdaq Dubai and DFM, highlighted the strategic importance of the ROP Sukuk Trust’s maiden sukuk issuance, expressing dedication to streamlining the listing process and fostering collaboration for mutual benefits. Nasdaq Dubai’s total debt issuance value of USD 127.41 billion, comprising both bond listings and sukuk issuances, cements its position as a leading exchange for fixed income listings. The exchange remains committed to facilitating economic growth, connecting issuers with diverse investor bases, and contributing to the ongoing development of the global Islamic finance market.

Also Read

“COP28: ‘Sustaina Claus’ Advocates for a Brighter Future for Children – Not Your Typical Santa Claus”

Expat in Dubai Secures AED 1 Million Prize with Complimentary Raffle Ticket.

Related Articles

Alert Smart City: An Investment Opportunity to Revolutionize Crisis Communication in the Era of Climate Change

Leadership in Urban Resilience: The Journey of a Smart City in Crisis Communication Since its inception in 2019, Alert Smart City has been at the...

Srikanth Ravinutala and Adaapt AI : A Journey of Digital Transformation

Introduction Adaapt AI, led by Srikanth Ravinutala, is a pioneering AI-driven platform designed for digital transformation heads, enabling seamless adaptation to new technologies. By...

Explore the GCC’s Newest AI Innovation for Transforming Your Social Media Strategy!

Ardalan Zadehsoltan, founder and CEO of Unlock AI, launched the company to address social media management challenges faced by clients. With a background in...

Sreshta Farmer Producer Company Limited: Pioneering Technology-Driven Farming in Andhra Pradesh

Introduction to Sreshta Farms Sreshta Farmer Producer Company Limited (Sreshta Farms) was established in Kollipara, Andhra Pradesh, with the vision of creating a technology-driven agricultural...

Blockchain Life 2024 in Dubai Unveils First Speakers, Featuring Industry Leaders from Tether, Ledger, TON, Animoca Brands and More

Blockchain Life 2024 in Dubai Unveils First Speakers, Featuring Industry Leaders from Tether, Ledger, TON, Animoca Brands and More Blockchain Life 2024, one of the...

Latest Articles