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Monday, March 4, 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.

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