(MENAFN - Khaleej Times) Nasdaq Dubai welcomed the listing of a 650 million Sukuk by Jebel Ali Free Zone (Jafz) on its market. The listing confirms the exchange's status as the largest in the Middle East for Islamic bonds, bringing the total nominal value of its listed Sukuk to 7.1 billion.
Jeff Singer, chief executive of Nasdaq Dubai, said: "As the international exchange serving the UAE and the region, Nasdaq Dubai is delighted to be chosen by Jafz for its Sukuk listing. Nasdaq Dubai offers Sukuk issuers and their investors a well regulated, effective and internationally visible platform.
Global Sukuk issuance reached 43.5 billion in the first quarter of 2012, up 55 per cent from the same period of 2011, according to Nasdaq Dubai figures.
Salma Hareb, chief executive officer of Jafz, said: "Jafza has once again demonstrated a strong and sustainable long-term business model. This refinancing success confirms the strength of Jafza as global players."