Nasdaq Dubai recorded a landmark year in 2025, attracting a record number of Sukuk listings amid sustained global demand for Sharia-compliant instruments. By year-end, total outstanding debt securities listed across Dubai’s exchanges reached $150.9 billion, with Nasdaq Dubai accounting for $146.1 billion.
Moreover, the value of outstanding Sukuk listings surpassed $100 billion, marking an eightfold increase from $12.6 billion in 2013. Since its inception, the exchange has hosted more than $245 billion in cumulative bonds and Sukuk issuances, including $177 billion in Sukuk.
Record Issuance Activity
In 2025, the exchange recorded $30.6 billion in new debt listings across 60 issuances. Therefore, the year reflected both scale and diversification in listing activity. Debut issuers included Ajman Bank, OMNIYAT, Mashreq, China Development Bank, and the New Development Bank. Additionally, repeat issuances under established programmes reinforced market depth.
Sovereign and government-related entities maintained a significant presence. Issuances by Indonesia, the UAE Federal Government, and the governments of Ras Al Khaimah and Sharjah strengthened Dubai’s position as a global gateway for capital markets.
ESG and Global Expansion
Meanwhile, ESG-linked debt listings reached $30.08 billion across 41 issuances. This total included $18.38 billion in green bonds, $9.05 billion in sustainability bonds, $2.55 billion in sustainability-linked bonds, and a $100 million blue bond. As a result, the exchange advanced its regional leadership in sustainable finance.
Abdul Wahed Al Fahim, Chairman of Nasdaq Dubai, said, “2025 has been a milestone year for Nasdaq Dubai. Surpassing US$100 billion in outstanding Sukuk listings and achieving record levels of debt issuance reflects the strong confidence placed in our market by issuers and investors worldwide. These milestones underscore Dubai’s position as a trusted, globally connected hub for Islamic finance, fixed income and sustainable investment.”
Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM), said, “Crossing US$100 billion in outstanding Sukuk listings is a landmark achievement for Nasdaq Dubai and reflects the strong and sustained confidence of international and domestic issuers in our market. This momentum was supported in 2025 by US$30.6 billion in new debt listings across 60 issuances, underscoring our role as a leading international listing venue for Sukuk and fixed income instruments. As we look ahead, our focus remains on deepening global connectivity, expanding multi-currency and ESG Sukuk offerings, and attracting new issuers from emerging and frontier markets.”
Building on these milestones, the exchange enters 2026 with continued momentum across Sukuk, ESG, and multi-currency debt instruments. Moreover, it remains focused on strengthening its diversified fixed-income platform and on reinforcing Dubai’s standing as a leading global hub for Islamic finance.
