News

Nasdaq Dubai to permit retail investment in sukuk

Individuals will be allowed to invest in Islamic bonds on Nasdaq Dubai by 2019, according to remarks from its chief executive. The exchange is in talks with the Dubai International Finance Centre (DIFC), the industry watchdog, about developing a “product which provides a minimal investment limit” and “sharia-compliant interest rate”, said Hamed Ahmed Ali to the Al-Bayan newspaper. The technical infrastructure for such a product is being prepared with the aim of producing a simplified system for the retail investment market, he added. Efforts have been made over the last few years to expand the Islamic bond market beyond its current institutional market. In April this year, the Dubai Islamic Economy Development Centre, a body which promotes the government’s Islamic finance initiatives, announced it was working with Nasdaq Dubai to introduce sukuk instruments for retail investors. ©2018 funds global mena

Executive Interviews

INTERVIEW: Totally mega

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In 2016, global consulting firm PWC forecast the emergence of five global ‘megatrends’ in the next two decades. Stephen Anderson, its Middle East clients and markets leader, talks about their...

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Roundtables

MENA ROUNDTABLE: ‘The story is about reforms’

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Our cross-industry panel discuss the positive backdrop in Egypt, the Dana Gas controversy and the potential index upgrades of Saudi Arabia and Kuwait. Chaired by George Mitton in Dubai.

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Our panellists tell us that instead of launching competing national projects, African countries should work together for the sake of a bigger capital market. Chaired by George Mitton in Cape Town.