Dubai, December 21, 2011 - The value of Sukuk investments held for safekeeping in NASDAQ Dubai's custody has risen by 36% in the past year, from 100 million dollars to 136 million dollars.
The increase in the holdings, which are maintained in the exchange's Central Securities Depository (CSD), reflects the wide range and competitive pricing of the CSD's services to participants. As well as custody, these include settlement of over the counter cross-border transfers and processing of corporate actions, such as interest and profit payments and redemption.
Craig Hewett, Head of Business Development at NASDAQ Dubai, said: "Our CSD provides Sukuk investors with an international best practice depository structure for settlement, asset-servicing and safekeeping. We look forward to hosting more Sukuk investors on the NASDAQ Dubai CSD as we expand our Sukuk market."
NASDAQ Dubai is the largest exchange for Sukuk in the Middle East by listed value, with 15 Sukuk with a nominal value of 10.5 billion dollars.
Investors' holdings in the NASDAQ Dubai CSD are maintained by NASDAQ Dubai's Custodian banks. These are Citibank, Deutsche Bank, EFG Hermes, Emirates NBD, HSBC, Shuaa Capital and Standard Chartered.