The Sukuk market has risen in prominence over the last decade as demand for Islamic financial products and services has increased globally. The Sukuk market will likely remain a key funding tool for Governments, Financial Institutions and Corporates in the years to come.
London Stock Exchange remains a key global venue for Sukuk listings. To date, more than $50bn has been raised through 68 issues of Sukuk issuances on London Stock Exchange. London Stock Exchange offers a choice of routes to market - International Securities Market or the Main Market. Both markets have seen landmark Sukuk deals across a range of sectors.
A London listing guarantees investor diversification for Sukuk issuers, as recent transactions on our markets show. Important players in the Islamic Finance industry, including the Islamic Development Bank and the Islamic Corporation for the Development of the Private Sector (ICDPS) continue to list on our markets, cementing London’s position as a leading platform for landmark Sukuk transactions.
London Stock Exchange also has a vibrant market in exchange-traded funds (ETFs), including three Shariah-compliant ETFs, available through six multi-currency lines based on Islamic indexes. ETFs are open-ended index-tracking funds listed and traded on exchanges like shares. They allow investors to gain exposure to a diverse range of assets and offer simple and efficient access to developed and emerging markets, broad and sector indexes. By trading a single share, users can effectively gain access to an entire index without the burden of investing in each of the constituent stocks, making ETFs a highly efficient and cost-effective investment.
The FTSE Shariah Global Equity Index Series has been designed to be used as the basis for Shariah-compliant investment products that meet the requirements of Islamic investors across the world. The FTSE Shariah Global Equity Index Series covers both developed and emerging markets, creating a comprehensive Shariah indexing solution. By partnering with Yasaar Ltd, an impartial consultancy and leading authority on Shariah, FTSE remains neutral and fully up to date with latest practices.
The Russell-IdealRatings Islamic Index offers investors an accurate and complete global-equity market index that reflects established Shariah investment guidelines. It is based on the broad and deep Russell Global Index universe of more than 10,000 securities, with the Shariah screening oversight of partner IdealRatings. To ensure full compliance with Shariah principles, the index is approved and monitored by an independent board of some of the most highly distinguished and respected Islamic scholars in the field.
The General Manager of Bank of China Limited London Branch and Chief Executive Officer of Bank of China (UK) Limited this morning opened the market at the London Stock Exchange to mark the listing of USD 2.2 Billion of Bank of China Sustainable Bonds. The bonds included outstanding Blue, Transition, and Biodiversity bonds, along with the recent ground-breaking and innovative Sustainability Re-l
On 22 July Phoenix Group plc completed the acquisition of ReAssure Group plc from Swiss Re Group. The transaction is another significant milestone on Phoenix’s growth journey and has established Phoenix as the largest long-term savings and retirement business in the UK with circa £300 billion of assets under administration and circa 14 million policies.
London Stock Exchange today welcomes the Hashemite Kingdom of Jordan placing its US$500m 4.95% due July 2025 and US$1.25bn 5.85% due July 2030 dual-tranche benchmark Eurobonds to the London Stock Exchange’s Main Market. The deal was more than 6 times oversubscribed, receiving bids in excess of $6.25bn.
The Kingdom intends to use the net proceeds of the issue of the Notes to finan
London Stock Exchange welcome Riyad Bank for a Market Open Ceremony, to celebrate the admission of USD 1.5 bn USD Tier 2 Sukuk. The Market Open Ceremony was attended by Riyad Bank senior management, including CEO Mr. Tareq Al Sadhan, Saudi Ambassador to the UK His Royal Highness Prince Khalid Bin Bandar Al Saud, Rt Hon Conor Burns MP, Minister of State DIT and other dignitaries.