Indonesia Taps Dubai Market for $2. 35 Billion Sukuk

Dubai, United Arab Emirates – Indonesia has successfully listed three sovereign sukuks, totaling $2. 35 billion, on Nasdaq Dubai. The Southeast Asian nation’s latest issuance comprises three tranches:a $750 million sukuk maturing in 2029, a $1 billion sukuk due in 2034, and a $600 million green sukuk with a 2054 maturity date.

This latest offering brings Indonesia’s total sukuk listings on Nasdaq Dubai to $24. 1 billion, solidifying its position as a key sukuk issuer on the exchange. The transaction also underscores Dubai’s prominence as the global hub for Islamic bond listings, with a total sukuk value of $96. 39 billion.

The Republic of Indonesia issued the sukuks under its $35 billion Trust Certificate Issuance Program. The green sukuk component highlights Indonesia’s commitment to sustainable finance and environmental initiatives.

Nasdaq Dubai’s Chief Executive Officer, Hamed Ali, expressed enthusiasm about the listing, emphasizing Indonesia’s role as a significant contributor to the exchange’s sukuk market. He further highlighted Dubai’s strategic location as a bridge between Asia and the Middle East, facilitating cross-border investments and capital flows.

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