emirates7 - Nasdaq Dubai has officially listed the Government of Ras Al Khaimah's (through the Investment and Development Office of Ras Al Khaimah - IDO) 10-year US$1 billion senior unsecured Sukuk, with a profit rate of 5.038 percent, issued on March 5, 2025. The Sukuk, which matures in 2035, is part of RAK Capital's $2 billion Trust Certificate Issuance Programme, a special-purpose vehicle linked to the Government of Ras Al Khaimah. The proceeds will support Ras Al Khaimah's economic and infrastructure development plans.
The Sukuk issuance attracted significant investor interest, with an orderbook exceeding $4.4 billion, reflecting confidence in Ras Al Khaimah's economic stability and growth prospects.
Mohammed Sultan Al Qadi, Managing Director of the IDO, rang the market-opening bell at Nasdaq Dubai to mark the listing, accompanied by Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM).
Al Qadi commented, "This Sukuk issuance underscores Ras Al Khaimah's sound financial management and commitment to sustainable economic growth. The strong investor interest highlights our economic strength, and listing on Nasdaq Dubai offers a transparent and regulated platform to connect with global investors."
Hamed Ali added, "We are delighted to welcome Ras Al Khaimah's $1 billion Sukuk listing on Nasdaq Dubai. The robust demand shows the ongoing appetite for high-quality sovereign debt. Government listings now account for 62 percent of Nasdaq Dubai’s total, reinforcing our role as the leading exchange for public fundraising and providing issuers with a trusted platform to access global capital markets."
This listing adds to RAK Capital's previous Sukuk issues on Nasdaq Dubai, including the $500 million Sukuk that matured in October 2018 and the $1 billion Sukuk issued in 2015, which will mature by March 2025.
With this addition, the total value of Sukuk listed on Nasdaq Dubai has surpassed $92.7 billion, further cementing the exchange's position as a global Islamic finance hub. The total value of debt securities listed on Nasdaq Dubai now stands at $136.2 billion across 157 issuances.
The Sukuk issuance attracted significant investor interest, with an orderbook exceeding $4.4 billion, reflecting confidence in Ras Al Khaimah's economic stability and growth prospects.
Mohammed Sultan Al Qadi, Managing Director of the IDO, rang the market-opening bell at Nasdaq Dubai to mark the listing, accompanied by Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM).
Al Qadi commented, "This Sukuk issuance underscores Ras Al Khaimah's sound financial management and commitment to sustainable economic growth. The strong investor interest highlights our economic strength, and listing on Nasdaq Dubai offers a transparent and regulated platform to connect with global investors."
Hamed Ali added, "We are delighted to welcome Ras Al Khaimah's $1 billion Sukuk listing on Nasdaq Dubai. The robust demand shows the ongoing appetite for high-quality sovereign debt. Government listings now account for 62 percent of Nasdaq Dubai’s total, reinforcing our role as the leading exchange for public fundraising and providing issuers with a trusted platform to access global capital markets."
This listing adds to RAK Capital's previous Sukuk issues on Nasdaq Dubai, including the $500 million Sukuk that matured in October 2018 and the $1 billion Sukuk issued in 2015, which will mature by March 2025.
With this addition, the total value of Sukuk listed on Nasdaq Dubai has surpassed $92.7 billion, further cementing the exchange's position as a global Islamic finance hub. The total value of debt securities listed on Nasdaq Dubai now stands at $136.2 billion across 157 issuances.