Emirates NBD, a leading bank in the region, today revealed the launch of the Emirates NBD Markit iBoxx USD Sukuk Index (The Index), covering global USD denominated Sukuk (Islamic bonds). The Index will contain 98 Sukuk * from 61 companies with a present market value of over US$ 90 billion.

The Emirates NBD Markit iBoxx USD Sukuk index records sovereign, sub-sovereign and corporate Sukuk from emerging and established markets and will include investment grade, sub investment grade and unrated safeties which use a wide representation of the global Sukuk world. Incorporating openness, multi-dimensional evaluation, independence and flexibility, the Index will certainly supply a precise and objective benchmark for Islamic finance investors.

Established by Emirates NBD Group in partnership with IHS Markit, a world leader in the provision of set earnings and macroeconomic indices, the Emirates NBD Markit iBoxx USD Sukuk Index is a market-cap weighted index committed to recording the efficiency of the Sukuk market. It will be made use of for benchmarking, danger and efficiency analysis and as an underlying for tradable products. In order to meet the growing need for Shari'a- certified services, it is envisaged that the Index will be utilised by a series of organizations including possession managers, financial institutions, pension plans and sovereign riches funds and ETF issuers.

Commenting on the launch of the Index, Ahmed Al Qassim, Chief Executive Officer of Emirates NBD Capital said: "Demand for sovereign and company Sukuk has actually increased considerably over the last few years attracting significant global capital. With the launch of the Emirates NBD Markit iBoxx USD Sukuk Index, we aim to give capitalists with first-rate analysis tools and standardised performance measurement to allow them making the very best investment options. The Index will likewise make it possible for the creation of products that will certainly lead the way for greater access to the Sukuk market for retail investors who have traditionally been underserved by chances to purchase this property class. Synergising the bank's enduring expertise in Islamic capital markets with IHS Markit's worldwide trusted knowledge in developing and offering indices, the Index will certainly be a stimulant for advancing the global Islamic finance economy.

Tariq Bin Hendi, Executive Vice President and Head of Products and Advisory, Emirates NBD stated, "With a strong level of 2017 Sukuk issuance from both sovereigns and corporates, led by Saudi Arabia, and a promising pipeline for the rest of the year, the Emirates NBD Markit iBoxx USD Sukuk Index will certainly be a beneficial device for fund supervisors both within the GCC and more afield. From an asset monitoring perspective, we expect the product advancement possibilities the index could provide, creating new methods for regional and global investors to access the investment chances offered by Sukuk. We have worked very closely with Emirates NBD Resources and the Group's Research department to develop the Index, and eagerly anticipate our continued partnership on this project."

Tim Fox, Chief Economist and Head of Research at Emirates NBD said, "The Index would certainly provide an added method for exact assessment of the total development and efficiency of Islamic financial debt resources markets in the region. While there is a plethora of indices readily available for traditional bonds, trustworthy and conveniently offered sukuk indices are few and far between. As a leading provider of research study in the region, Emirates NBD is committed to supplying detail and routine details on the sukuk world to our ever before demanding investor base."

" The production of the Emirates NBD Markit iBoxx USD Sukuk index is an important and timely growth of our global iBoxx family of bond indices," said Aram Flores, managing director and co-head of Indices at IHS Markit. "In partnering with Emirates NBD, we are able to leverage appropriate market proficiency and provide a devoted index standing for the dollar denominated sukuk market. With growing passion in sukuk, we are positive that the Emirates NBD Markit iBoxx Sukuk Index as a new, independent benchmark will aid a diverse group of financiers gain access to this dynamic market."

Emirates NBD Markit iBoxx USD Sukuk Index was launched today with senior executives from the bank existing. End of day Index values offered on http://www.markit.com/product/IBoxx