Indonesia Lists World’s Biggest Sukuk in Dubai
THE LATEST LISTINGS FOR THE SUKU GIVE PROOF THAT DUBAI IS AT THE CENTER OF THE ECONOMIC WORLD
I recently came across this article in the Khaleej Times. This article was speaking about how the latest sukuk listing is putting Dubai in a prime spot for economic takeover. The latest listing has the sukuk listed for DH 22 Billion. This is the largest listing a sukuk has ever been put on the market for. This includes back in 2009.
Speaking with Indonesia’s prime minister he had the following to say:
“This takes us one step further in strengthening our ties with the UAE. Our ties have always been strong, but this listing puts us on the map.”
He also explained that this will also strengthen ties with the Middle East a bit more. There are ties there in Dubai, but the ties need to be a bit stronger. This exciting news gives way for an exciting new enterprise.
When asked to comment on this, His Excellency Mohammed Al Gergawi had this to say:
“This listing will hopefully play a vital role in strengthening our ties with Islamic finance and economic recovery. With this listing, more sukuk will hopefully become available and attractive. We hope to have this not just here, but around the water.”
The growing success of Islamic Capital markets is very important. It’s not just important to Dubai and other Islamic nations, but it’s important for the world over. Dubai attracts lots of tourists year-round. Some even decide to stay and live there. This is very important for people like Mohammed Gergawi and His Highness Shaikh Mohammed bin Rashid Al Maktum. His Highness just happens to be Vice-President and Prime Minister of the UAE and Ruler of Dubai.
“We are not just looking for economic growth and development within the Islamic Capital markets; but, we are also heavily steeped in tradition. This tradition still remains at our bedrock, as we move forward.”
This deal is also set to help out investors, in both the public and private sectors. The Dubai NASDAQ is set to bring in lots of money over the next few months, if not years. This is a prime time to have this news coming in. This will bring lots of money to everyone, no matter how much or little they have invested.
Here is small excerpt about Mohammed Gergawi:
MOHAMMED AL GERGAWI
Mohammed, for those of you who don’t know, is the Minister of Cabinet Affairs. He serves in the Federal Government for the United Arab Emirates. He completed the first part of his education in the Emirates. He then went on to get his college degree from Eastern Michigan University.
The recipient of multiple awards, Al Gergawi places an emphasis on innovation. Politically, he has held many positions. One position included the Chairman of the Ministerial Counsel for Services. He has seen the launch of many things, including the Dubai Strategy. And recently, he spearheaded a drone delivery project that showcases the innovation taking place within the UAE government. Here’s an interview with CNN about the project:
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He is consistent in his participation of the World Economic Forum in Davos, and one of His Excellency’s latest projects is Dubai’s Museum of the Future. If you would like to know more about his other business contributions, you can Google him for more information.