Nasdaq Dubai Hits Record Sukuk Listings, $146B Outstanding

Nasdaq Dubai achieved a record number of Sukuk listings in 2025, driven by strong demand from global investors and active participation from regional and international issuers.

By the end of 2025, the total value of debt securities listed across Dubai Financial Market (DFM) and Nasdaq Dubai reached $150.9 billion, with Nasdaq Dubai accounting for $146.1 billion.

The Sukuk market on Nasdaq Dubai has grown significantly over the past decade, increasing eightfold since 2013, from $12.6 billion to over $100 billion. Since inception, the exchange has hosted more than $245 billion in cumulative bond and Sukuk issuances, including $177 billion in Sukuk.

This growth aligns with the UAE’s National Strategy for Islamic Finance, which aims to increase domestic Sukuk listings to over AED660 billion and international listings to AED395 billion by 2031.

In 2025, Nasdaq Dubai recorded $30.6 billion in new debt listings across 60 issuances, including debut listings from Ajman Bank, OMNIYAT, Mashreq, China Development Bank, and the New Development Bank. Repeat issuances under established programs also contributed to a strong and diversified listing activity.

Sovereign and Government Participation:
Sovereign and government-related issuers represented a major share of activity. Key issuances included the Republic of Indonesia, the UAE Federal Government, and the governments of Ras Al Khaimah and Sharjah, reinforcing Dubai’s role as a trusted gateway for global capital flows.

Corporate and financial issuers listed a range of instruments, including conventional bonds, Sukuk, Additional Tier 1 capital securities, and sustainability-linked structures, reflecting the depth and flexibility of the exchange’s fixed income market.

Sustainable Finance Growth:
Nasdaq Dubai strengthened its position in sustainable finance, with total ESG-linked debt reaching $30.08 billion across 41 issuances, including:

• $18.38 billion in green bonds (27 issuances)

• $9.05 billion in sustainability bonds (9 issuances)

• $2.55 billion in sustainability-linked bonds (4 issuances)

• $100 million in blue bonds (1 issuance)

Global Issuer Participation:
The exchange attracted landmark listings from sovereigns and supranationals across Asia and the Middle East, including Turkey, China, Hong Kong, Philippines, and institutions like the Islamic Development Bank and China Development Bank, confirming Nasdaq Dubai’s role as a trusted international listing venue.

Leadership Statements:

Abdul Wahed Al Fahim, Chairman of Nasdaq Dubai, said,
“Surpassing $100 billion in Sukuk listings and achieving record debt issuance highlights global confidence in our market and Dubai’s standing as a hub for Islamic finance and sustainable investment.”

Hamed Ali, CEO of Nasdaq Dubai and DFM, added,

“Crossing $100 billion in outstanding Sukuk listings is a landmark achievement. In 2025, $30.6 billion in new debt listings across 60 issuances further strengthened Nasdaq Dubai’s position as a leading venue for Sukuk and fixed income instruments.”

Looking ahead, Nasdaq Dubai aims to expand multi-currency and ESG Sukuk offerings and attract new issuers from emerging and frontier markets, maintaining its status as a global hub for Islamic finance and fixed income investments.