The government of Indonesia has listed two green Sukuk on Nasdaq Dubai, one valued at USD1.25 billion and the other at USD750 million.
The listings underline the close relations between the UAE and Indonesia, the world’s most populous Muslim country, as well as Dubai’s growth as the global capital of the Islamic Economy.
Capital raised by the Sukuk is intended for projects including sustainable development initiatives. The Indonesian government is the largest Sukuk issuer on Nasdaq Dubai by both value and number of listings, with securities now totalling USD16.5 billion from 12 issuances. The total value of all Sukuk listed on Dubai’s exchanges has now reached USD63.14 billion, the largest amount of any listing centre in the world.
The Arrangers and Dealers for Indonesia’s latest two Sukuk were Deutsche Bank, Dubai Islamic Bank, HSBC, Mandiri Securities and Maybank. The Legal Advisers to the Issuer for the transaction were Clifford Chance and AZP Legal Consultants. The Legal Advisers to the Arrangers and Dealers were White & Case and Assegaf Hamzah & Partners.
