Indonesia’s Sukuk Soars on Nasdaq Dubai: A Bold Step in Islamic Finance
Nasdaq Dubai has become a stage for Indonesia’s financial prowess, as the Republic unveiled three more sukuk issuances worth $2.75 billion. This ambitious move, part of a staggering $45 billion Trust Certificate Issuance Program, showcases Indonesia’s finesse in navigating the global debt capital markets. These latest tranches—with maturities extending into 2030, 2034, and 2054—are not just financial instruments but bold statements of resilience and ambition. Amid global economic uncertainties, Indonesia has emerged as the only Asian sovereign to access the USD debt market four times in 2024, a feat underpinned by strong investor confidence.
The resonance of these sukuk listings extends beyond numbers. With $98.9 billion worth of sukuk now listed, Nasdaq Dubai cements its title as the global leader in Islamic finance. Indonesia, as a star performer, boasts $24.6 billion across 21 listings on the exchange, making it a pivotal player in the sector. The oversubscription rate of 1.8 times for these issuances speaks volumes about the allure of Indonesia’s economic story. Husin Bagis, Indonesia’s Ambassador to the UAE, captured the moment perfectly as he rang the market-opening bell, celebrating a milestone not just for his country but for the broader Islamic finance ecosystem.
But this is more than a financial achievement—it’s a testament to Indonesia’s growing partnership with Dubai, where Nasdaq Dubai shines as a global hub for innovation in Islamic finance. Hamed Ali, CEO of Nasdaq Dubai, emphasized the exchange’s commitment to fostering such success stories. In these listings lies a narrative of mutual trust, robust economic fundamentals, and a shared vision for advancing Islamic finance worldwide. Together, Indonesia and Nasdaq Dubai are setting the stage for a transformative chapter in global finance.
(Source: Nasdaq Dubai)
