Nasdaq Dubai posts 33 fixed‑income listings worth $13.8bn in first half of 2026
Nasdaq Dubai recorded 33 fixed‑income listings valued at $13.8 billion in the first half of 2026, reinforcing its role as a regional hub for bonds and sukuk.
Market snapshot: 33 listings and $13.8 billion raised
Nasdaq Dubai recorded 33 fixed‑income listings in the first half of 2026, raising a combined $13.8 billion and underscoring strong issuance activity on the exchange. The exchange said issuers ranged from sovereigns and multilateral institutions to banks and corporates. Demand from both regional and international investors helped sustain momentum during the period.
Total fixed‑income stock reaches $141 billion
By the end of the period, the total value of fixed‑income instruments listed on Nasdaq Dubai stood at $141 billion. That inventory comprised approximately $98.6 billion of sukuk and $42.4 billion of conventional bonds, signaling the exchange’s prominent standing in Islamic finance.
Issuance during the six months included 17 bond listings totaling $7.83 billion and 16 sukuk listings totaling $5.97 billion. Issuers based in the United Arab Emirates accounted for 57 percent of new listings, while international issuers made up the remaining 43 percent, reflecting a diversified supply base.
New programmes and first‑time issuers broaden supply
Several new debt programmes were launched on Nasdaq Dubai in the first half, including a $5 billion medium‑term note programme by Mashreq and a $5 billion EMTN programme by the Arab Bank for Investment and Foreign Trade (Al Masraf). A notable addition was an $8 billion certificate of credit programme established by Al Masar CI, the first sukuk programme on Nasdaq Dubai by an entity linked to the Hong Kong government.
Fifteen issuers entered the market during the period, including first‑time listings and returning names such as the Arab Energy Fund. The arrival of new programmes and debut issuers highlights growing confidence in Nasdaq Dubai’s ability to accommodate diverse structures and jurisdictions.
Banks and financial institutions drive product innovation
Financial institutions remained active across a wide set of instruments, issuing conventional bonds, green and blue sustainable bonds, AT1 additional tier‑1 capital instruments and native digital debt. Prominent bank issuers included Emirates NBD, Mashreq, Dubai Islamic Bank, ICBC (Dubai Branch) and Al Masraf, demonstrating cross‑border banking engagement with the exchange.
The mix of traditional and novel debt products indicates both depth and innovation in the market, with issuers leveraging Nasdaq Dubai’s infrastructure to access regional and international investor pools.
Digital bond milestone and sustainable finance growth
Nasdaq Dubai hosted the region’s first original digital bond issued by Emirates NBD, a milestone that combined digital issuance mechanics with the exchange’s established listing, clearing and settlement framework. The transaction is positioned as a catalyst for the development of digital debt instruments in the region.
Sustainable finance also gained traction, with several green and blue bond listings supporting a growing pipeline of environmental and climate‑linked projects. These issuances form part of Nasdaq Dubai’s broader push to scale sustainable capital‑raising channels.
UAE Treasury sukuk for individuals attracts broad investor interest
A standout development was the launch of the UAE government’s first retail treasury sukuk for individuals, issued by the Ministry of Finance and listed on Nasdaq Dubai on 2 July 2026. The offering targeted individual investors and was initially sized at AED 50 million before the final allocation was doubled to AED 100 million due to strong demand.
The retail sukuk saw a coverage ratio of nine times the target and attracted investors from 116 nationalities, including Emirati citizens, illustrating the appetite for high‑quality, government‑backed fixed‑income instruments among retail and expatriate investors. The issuance was distributed via Dubai Financial Market’s digital subscription platform, while Nasdaq Dubai provided the issuance, clearing and post‑listing services.
Outlook: deeper AED curve and expanded sustainable issuance
Market leaders at Nasdaq Dubai signalled plans to build on the robust first‑half performance by expanding access to fixed‑income instruments, deepening the AED‑denominated yield curve and broadening sustainable finance offerings. Officials highlighted the exchange’s multi‑currency capabilities, hosting listings in US dollars, euros, UAE dirhams and Chinese renminbi.
Abdelwahid Al Fahim, chairman of Nasdaq Dubai, said the first‑half results reflect issuer confidence and the depth of capital markets in Dubai, while Hamid Ali, CEO of Nasdaq Dubai and Dubai Financial Market, pointed to the retail sukuk and digital bond as examples of the market’s evolving infrastructure. Both executives underlined continued efforts to attract regional and international capital.
The second half of 2026 is expected to maintain issuance momentum, with a focus on additional sukuk and bond programmes, more sustainable debt structures and further innovation in market infrastructure. Issuers and investors will watch for follow‑on transactions that can extend the AED‑denominated benchmark curve and provide pricing reference points for corporate borrowers.
Nasdaq Dubai’s first‑half performance reaffirms its role as a focal point for fixed‑income and Islamic finance issuance in the Gulf, as the exchange seeks to convert current momentum into deeper, more liquid markets that support both institutional and retail participation.