Indonesia lists world's biggest sovereign sukuk in Dubai

Indonesia listed on Sunday four Islamic bonds (sukuk) on Nasdaq Dubai, the world's biggest sovereign Islamic sukuk in the Gulf emirate.

Indonesia's Finance Minister Bambang Bodjonegoro rang the market-opening bell to celebrate the listing of the bonds worth six billion U.S. dollars.

The listing of "our sukuk on Nasdaq Dubai is an important step forward in further strengthening indonesia's ties with the UAE and the wider Middle East, the minister said.

Indonesia, the biggest Muslim nation with a total population of 255 million people, is a frequent sukuk issuer in the global market, he added.

"Since our international debut in 2009, we have issued global sukuk valued at 7.65 billion dollars," Bodjonegoro said.

Mohammed Abdulla Al-Gergawi, United Arab Emirates (UAE) cabinet affairs minister and chairman of the Dubai Islamic Economy Development Centre, said the listing of the Indonesian sukuk in Dubai was "a milestone in the drive that Dubai started several years ago to become the capital of the Islamic Economy globally."

Nasdaq Dubai, a licensed market of the Dubai financial free zone DIFC, is the Middle East's only international capital market by regulatory standards.

Dubai is the world's leading sukuk centre by listed nominal value at 36.7 billion dollars, with Nasdaq Dubai accounting for 93 percent of that amount.

Nasdaq Dubai attracted sukuk listings valued at 13.4 billion dollars last year and has added 12.6 billion dollars so far in 2015.

Source: XINHUA