The Indonesian government has listed two green sukuk (Islamic bonds) valued at $2bn on Nasdaq Dubai, it was announced on Sunday.
One sukuk is valued at $1.25bn and the other at $750m.
Indonesia intends to use the capital raised by the sukuk for a variety of projects with an emphasis on sustainable development, a statement said.
Husin Bagis, the Indonesian ambassador to the UAE, said: “Our two sukuk were very well received by investors, reflecting the growing reach and importance of the Islamic capital markets in Muslim countries and globally.
“As we expand our support for the sukuk sector including to fund vital sustainable development initiatives, we look forward to further strengthening our relationship with Dubai as the leading centre globally for Islamic bond listings.”
The Indonesian government is the largest sukuk issuer on Nasdaq Dubai by both value and number of listings, with securities now totalling $15bn from 11 issuances.
The total value of all sukuk listed on Dubai’s exchanges has now reached $61.5bn, the largest amount of any listing centre in the world.
Abdul Wahed Al Fahim, chairman of Nasdaq Dubai, said the exchange was further enhancing its listing process, as well as its post-listing services.
“We are preparing for a wide range of new listings in coming months from UAE, regional and global issuers,” he said.
The Dubai Islamic Economy Development Centre said in April last year that it was collaborating with Nasdaq Dubai to introduce retail sukuk instruments.