• Nasdaq Dubai welcomed the listing of a $1 billion Sukuk issued by the Government of Ras Al Khaimah through its Investment and Development Office. The 10-year, senior unsecured Sukuk carries a 5.038% profit rate and was issued on March 5, 2025. Investor demand was strong, with orders exceeding $4.4 billion, reflecting high confidence. Proceeds will support economic growth and infrastructure development, aligning with Ras Al Khaimah’s strategic goals. The issuance, maturing in 2035, is part of a $2 billion trust certificate program managed by RAK Capital, a government-owned special-purpose entity.

• This listing strengthens RAK Capital’s track record on Nasdaq Dubai, following previous Sukuk issuances, including a $500M Sukuk maturing in 2018 and a $1B Sukuk from 2015, set to mature in March 2025. Sovereign Sukuk and bonds now account for 62% of Nasdaq Dubai’s total listings, with $92.7 billion in Sukuk and $136.2 billion in total listed debt instruments across 157 issuances.