LONDON: London Stock Exchange today welcomes the listing of DP World’s fourth Islamic bond, or Sukuk, in London. The seven year Sukuk raised $1.2 billion and follows the first ever Sukuk from Islamic Corporation for the Development of the Private Sector (ICD) in April this year. ICD choose London to list its debut $300 million Sukuk and its entire MTN programme.
London Stock Exchange has a strong track record of supporting Sukuk issuance on its markets. More than $47 billion has been raised through 65 Sukuk issues – including four this year – in London, which is also home to six Islamic banks. There are currently 33 active Sukuks on London Stock Exchange.
“The fact that the UK was the first country outside the Islamic world to issue a Sukuk bond, which experienced exceptional demand, underlined London’s standing as the world’s leading international financial centre. And today’s listing of DP World’s fourth Sukuk on our markets confirms London Stock Exchange as a key destination for foreign, Shariah-compliant financial products, and once more the UK’s attraction as a leading global financial hub with a deep pool of international capital interested in these products,” Nikhil Rathi, CEO, London Stock Exchange plc & Director of International Development, London Stock Exchange Group said.