2024-03-08 00:00:00
Nasdaq Dubai welcomed the first listing of Sukuk worth US$300 million (AED 1.1 billion) by Binghatti Holding. This listing of the company confirms the pivotal role of sukuk financing at the regional financial level, and also strengthens Nasdaq Dubai’s position as a major destination for listed issuances, enhancing its pioneering role in facilitating innovative financial instruments and contributing to expanding the portfolio of securities listed on the stock exchange.
The listing of Binghatti Holding is of particular importance through the diversification of financing options in the real estate sector, as it sets a new standard for the first real estate sukuk denominated in US dollars from the Middle East and North Africa region in 2024, which paves the way for future listings and enhances the region’s reputation in the field. Islamic finance at the global level.
The CEO of Binghatti Holding, Mohamed Binghatti, and the CEO of the Dubai Financial Market and Nasdaq Dubai, Hamed Ali, rang the opening bell of the trading session at Nasdaq Dubai, in the presence of a group of supporting banks.
Mohammed Bin Ghatti said: “This achievement reflects our strategic vision and dedication to driving growth and excellence in the financial sector in the region.”
Hamed Ali added: “The first listing of Sukuks from (Binghatti Holding) confirms our continued endeavor to make Dubai a global center for financing Sukuks, and reinforces our firm commitment to providing financial solutions to companies in the region. The growing interest in the Islamic financial market also indicates the development and strength of the financial system in Nasdaq Dubai.”
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