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The Governor of the Dubai International Financial Centre (DIFC), His Excellency Dr. Omar Bin Sulaiman, yesterday congratulated the Dubai International Financial Exchange (DIFX) on becoming the world’s largest exchange for Sukuk.
This followed the announcement from the DIFX that it listed a $150 million Sukuk created by The Investment Dar Company K.S.C. (TID), which now positions the DIFX as the largest exchange for Sukuk with a total value of $4.11 billion.
Within the framework of the DIFC, the DIFX is attracting increasing business from across the Middle East. Alongside the rise in Sukuk (Islamic-compliant bonds) issuances in the Gulf, up 117% from 2005, the DIFX is also a magnet for a number of equity listings, including initial public offerings, conventional bonds and certificates over index. The DIFX currently has sixteen regional and international members and with the listing of TID, now has twenty listed securities.
His Excellency Dr. Omar Bin Sulaiman, Governor of the DIFC, said:
“This impressive achievement by the DIFX signals another phase in the regions economic growth and leadership. Since the DIFC is constantly seeking to support the region’s financial institutions and reinforce international standards across the board, we are proud that the DIFX is pioneering in the Islamic Finance industry being its market of choice”.
