Sheikh Ahmed Bin Saeed Al Maktoum, chairman and chief executive of Emirates Airline and Group, today rang the market-opening bell to celebrate the listing of a $913 million Sukuk by Emirates Airline on Nasdaq Dubai.

The listing brings the total value of Sukuk listed on Dubai’s exchanges to $34.96 billion, reinforcing Dubai’s position as an international centre for Sukuk activity and underlining its growth as the global Capital of the Islamic Economy.

The bell ceremony took place in the presence of Essa Kazim, governor of Dubai International Financial Centre (DIFC), secretary general of Dubai Islamic Economy Development Centre (DIEDC), and chairman of Dubai Financial Market (DFM); Abdul Wahed Al Fahim, chairman of Nasdaq Dubai; and Hamed Ali, chief executive of Nasdaq Dubai.

Al Maktoum said: "As Emirates continues to strengthen its global network and fleet, Nasdaq Dubai’s exceptional links to international and regional investors provide us with an effective platform to support our aircraft financing initiatives. Its stature as the international exchange serving our home region, operating to high regulatory standards, makes Nasdaq Dubai an ideal listing venue for Emirates.”

“This transaction set many new milestones including being the first time that a Sukuk has been used to finance and pre-fund the acquisition of our A380 aircraft. We are pleased with the tremendous response and confidence that investors have in Emirates, and will continue our strategy to maintain a diverse portfolio of financing sources,” he said.

Al Fahim said: "The exchange is delighted to support the successful development of Dubai’s transportation sector through hosting this listing by Emirates Airline. We look forward to listing further Sukuk issued by regional and international companies active in a wide range of industry sectors.” – TradeArabia News Service