UAE - Mubasher: Nasdaq Dubai has welcomed the listing of the Indonesian government's three Sukuk tranches worth $3 billion, raising the total value of all Sukuk listed by Indonesia on the international financial exchange to $19.75 billion.

The three tranches comprise a $1.25 billion Sukuk at 1.5% yield and five-year maturity, a $1 billion Sukuk at 2.55% yield and 10-year maturity, and a $750 million green Sukuk at 3.55% yield and 30-year maturity, according to a press release on Wednesday.

With a combined order book of over $10.3 billion, the issuances have seen strong demand from central banks, sovereign wealth funds, and insurers, especially in South East Asia and the Middle East.

The Sukuk fosters Dubai’s position as one of the largest centres for Sukuk listings globally by attracting local and international issuers with a total listed value of $76 billion.

The Chief Executive of Nasdaq Dubai and Deputy CEO of DFM, Hamed Ali, said: "This mounting presence of international issuers clearly underscores Dubai’s active role in promoting Islamic economy, Sharia’a-compliant financial markets as well as supporting sustainable economic development across the world."