Nasdaq Dubai today welcomed the listing of a US$1 billion Sukuk issued by the Emirate of Sharjah.

The Emirate’s total Sukuk value listed on the Middle East’s financial exchange has now reached $3.45 billion.

The joint lead managers for the latest Sukuk listing were Arab Banking Corporation, Dubai Islamic Bank, HSBC Bank, KFH Capital Investment Company, Sharjah Islamic Bank and Standard Chartered Bank. The legal advisers to the Emirate of Sharjah were Clifford Chance, and Dubai-based Maples and Calder.

The total value of all Sukuk listed in Dubai has now reached US$61.34 billion, strengthening Dubai’s role as the largest Sukuk listing centre in the world by value.