In 2025, Nasdaq Dubai recorded a record number of Sukuk listings, bolstered by ongoing investor demand worldwide for Sharia-compliant debt instruments and consistent issuance activity from regional and international issuers.
Nasdaq Dubai accounted for $146.1 billion of the $150.9 billion in outstanding debt instruments listed on the Dubai Financial Market (DFM) and Nasdaq Dubai by the end of 2025. With the value of existing listings rising eightfold since 2013, from $12.6 billion to over $100 billion, the exchange’s Sukuk market has grown dramatically over the last ten years.
More than $245 billion in bonds and Sukuk have been issued on Nasdaq Dubai since its founding, including $177 billion in Sukuk. The expansion is in line with the National Strategy for Islamic Finance and Halal Industry of the United Arab Emirates, which intends to raise Sukuk listings to over Dhs660 billion domestically and Dhs395 billion globally by 2031, with a target of Dhs2.56 trillion in Islamic banking assets.
In 2025, Nasdaq Dubai recorded 60 new debt listings totalling $30.6 billion, setting a record for robust and varied listings activity. Alongside reissues under existing programs, the exchange’s sustained appeal to sovereign, supranational, financial, and corporate issuers was further reinforced by debuts from Ajman Bank, OMNIYAT, Mashreq, China Development Bank, and the New Development Bank.
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