Nasdaq Dubai Lists Indonesia’s Three Sukuk Issuances

Nasdaq Dubai has welcomed listings of three Sukuk issued by the government of Indonesia (Perusahaan Penerbit SBSN Indonesia III) totalling $2.35 billion, under its $35 billion Trust Certificate Issuance Programme.

These new listings reinforce Dubai’s stature as the world’s leading center for Sukuk listings, with a total value of $96.39 billion, while further strengthening the close ties between Dubai and Indonesia, Nasdaq Dubai said in a statement.

The three Sukuk issuances include $750 million Trust Certificates due in 2029, $1 billion Trust Certificates due in 2034 and $600 million Trust Certificates due in 2054, which is a Green Sukuk. The listing of these Sukuk solidifies Indonesia’s position as one of the leading Sukuk issuers on Nasdaq Dubai, with a total of 20 listings amounting to $24.1 billion.

The total value of debt listed on Nasdaq Dubai adds up to $134.1 billion, with Sukuk amounting to $93.89 billion. Nasdaq Dubai continues to also lead on the ESG related listings with green issuances totalling $19.7 billion of the $29.75 billion ESG related issuances.

The listings not only celebrate financial collaboration but also deepen the economic bonds between Dubai and Indonesia, paving the way for future growth and investment opportunities in the global Islamic finance sector.

Robust Investment Appetite

Indonesia’s Ambassador to the UAE Husin Bagis rang the market opening bell alongside Eko NM Saputro, Finance Attache at the Indonesian Embassy in Abu Dhabi on behalf of Government of Indonesia and Hamed Ali, CEO of Nasdaq Dubai and DFM.

Speaking on the occasion, Husin Bagis said they were honoured to witness the listing of the new three series of Indonesia Global Sukuk.

“This transaction attracts interest from diverse investor types and geography, showcasing robust investment appetite and market confidence for Indonesia given Indonesia’s strong economic fundamentals. The 30-year tranche was a green series and showed evidence of the Republic’s dedication and long-term commitment to green and sustainable financing to combat the impact of climate change,” Bagis added.

Hamed Ali said that they too were pleased to welcome Indonesia’s latest sukuk listings on Nasdaq Dubai.

“These listings not only highlight the importance of Dubai as a hub for Islamic finance but also strengthens the economic ties between the UAE and Indonesia. Moreover, the demand for these issuances demonstrates the confidence that global investors have in our market, reflecting Nasdaq Dubai’s commitment to providing a robust platform for both sukuk issuers and investors,” Hamed Ali added.

The past sukuk issuances by Indonesia on Nasdaq Dubai include two each green Sukuk totalling $4 billion on Nasdaq Dubai in February and May in 2019 and another two Sukuk valued $3.25 billion in June 2022.