Nasdaq Dubai welcomes the maiden sukuk listing by the Republic of the Philippines worth USD1bln

Nasdaq Dubai welcomes the maiden sukuk listing by the Republic of the Philippines worth USD1bln

Nasdaq Dubai has solidified its position as a hub for innovative financial products, including sukuk, with the overall value of listed securities reaching USD 127.41 billion.

Dubai: Nasdaq Dubai welcomes the first Sukuk listing by the Republic of the Philippines "ROP Sukuk Trust”, underscoring the exchange’s reputation as the preferred choice for sovereign issuances.

The Republic of Philippines has chosen Nasdaq Dubai for listing its maiden sukuk, worth USD 1 billion of Trust Certificates due in 2029. The debut listing solidifies the exchange's standing as a premier global platform for financial listings and features the Philippines, one of Asia’s most active sovereign debt issuers, reflecting the confidence in Nasdaq Dubai’s advanced platform, that focuses on offering a world class listing venue to leading regional and global issuers.

The total value of sukuk issuances listed on Nasdaq Dubai now stands at USD 85.11 billion, marking yet another successful achievement in Nasdaq Dubai’s journey towards expanding its role as a global centre for sukuk issuances and amplifying its strategic significance to the Islamic finance market. Dubai is recognized as one of the world’s largest centres for sukuk issuances, with a total of USD 87.61 billion, in alignment with the government’s vision to become the international