LISTING ACCELERATES DUBAI’S EXPANSION AS GLOBAL ISLAMIC FINANCE CENTRE

Sultan Ahmed Bin Sulayem rings the market-opening bell to celebrate the listing on Nasdaq Dubai

Sultan Ahmed Bin Sulayem, group chairman and chief executive officer of DP World, rang the market- opening bell today to celebrate the listing on Nasdaq Dubai of a US$ 1.2 billion Sukuk – the Islamic equivalent of bonds. The listing by DP World reinforces Dubai’s status as the global leader for Islamic bond listings, with a total nominal value of US$ 44.56 billion.

The bell-ringing ceremony was held in the presence of His Excellency Essa Kazim, Governor of Dubai International Financial Centre (DIFC), Secretary General of Dubai Islamic Economy Development Centre (DIEDC), and Chairman of Dubai Financial Market (DFM); Abdul Wahed Al Fahim, Chairman of Nasdaq Dubai; and Hamed Ali, Chief Executive of Nasdaq Dubai.

Sultan Ahmed Bin Sulayem, said, “Our issuance has received strong investor demand from around the world, including the US and Europe as well as our own region, underlining the market’s confidence in our continuing development and growth as a leading trade enabler connecting marine and inland terminals, free zones and logistics for the benefit of economies around the world.Our Sukuk listing fits with the vision of our leaders to position Dubai as the capital of the Islamic Economy globally.”

DP World’s decision to choose Nasdaq Dubai for its listing highlights the growth of the Sukuk sector in the Emirate. This is helping to accelerate the expansion of Dubai as the global capital of Islamic economy under the initiative launched by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President, Prime Minster and Ruler of Dubai.

DP World’s latest Sukuk, which listed on Nasdaq Dubai on June 1, 2016, is the company’s fourth debt listing on the exchange. Abdul Wahed Al Fahim, Chairman of Nasdaq Dubai, added: “Our Islamic capital markets framework is purpose built to support leading companies such as DP World that require a high profile platform for their securities, within a robust regulatory environment. We look forward to welcoming many more UAE, regional and international Sukuk issuers as the sector continues to expand as an attractive tool for enterprises to raise capital.”

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