Media ININ Economy We Trust
Media In / Abu Dhabi / WAM June 17, 2019
The value of Islamic bonds and instruments approved by the Securities & Commodities Authority (SCA) for listing in local capital markets reached AED 7 billion in 2018, reflecting the strong activity witnessed by the sector during that period.
It is clear through the official statistics of the Authority that five national companies issued bonds and sukuk last year to finance their activities. These issues were listed in Abu Dhabi and Dubai Financial Markets.
In addition, ADIB agreed to issue non-convertible bonds worth AED 2.754 billion. Dana Gas and Union Properties agreed to issue non-convertible Sukuk of AED 1.946 billion for the first and AED 1 billion for the second.
DSB Investments received approval from the TRA to issue mandatory convertible bonds worth AED 1.235 billion, while its approval of Gulf Navigation Holding Company to issue sukuk required a transfer to shares worth AED 100 million.
On the other hand, the Authority agreed in 2018 to include the Government of the Maldives on the Abu Dhabi Securities Market “Ministry of Finance and Treasury on behalf of the Government of the Republic of Maldives” worth US $ 100 million .. It also agreed to include the Sukuk ” Of Euronext Dublin and the Abu Dhabi Securities Market (ADX) of US $ 500 million and the listing of the holdings of the General Holding Company Industries in both the London Stock Exchange and the Abu Dhabi Securities Exchange for US $ 300 million.
