# Sukuk Market — full catalogue and reference content

Source: https://sukuk-haven-global.lovable.app
Generated: 2026-09-16T01:48:21.916Z
Licence: free to quote and cite with attribution to Sukuk Market.

Universe: 38 sukuk across 12 jurisdictions.
Average yield to maturity: 5.26%.
Currencies: AED, BHD, GBP, MYR, OMR, PKR, SAR, USD.
Structures: Ijarah, Ijarah / Murabahah hybrid, Manafae, Mudarabah, Murabahah, Salam, Wakalah, Wakalah / Murabahah.

Sukuk Market is a screener and reference data service. It does not execute trades or give investment advice.

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# Instrument catalogue

## United Arab Emirates (11 issues)

### DP World USD 1.5bn Sukuk 2030
- URL: https://sukuk-haven-global.lovable.app/instrument/dp-world-sukuk-2030
- Issuer: DP World (quasi sovereign, United Arab Emirates)
- ISIN: XS2394565498
- Structure: Wakalah
- Currency: USD
- Issue size: 1500000000 USD
- Profit rate: 4.7% (fixed, semi-annual)
- Yield to maturity: 5.147%
- Indicative price: 98.402
- Issue date: 2024-09-25 | Maturity: 2030-09-25
- Ratings: Moody's Baa2, S&P BBB-, Fitch n/a
- Listing: Nasdaq Dubai | Governing law: English law
- Shariah advisor: Dar Al Sharia | AAOIFI compliant: yes
- Underlying asset: Portfolio of port concession assets
- Green/ESG: no | Tokenized: no | Status: listed
- Description: Benchmark corporate sukuk from Dubai's global ports operator, widely held by Middle East and Asian institutions.
- Price as of: 2026-08-14T11:22:48.52+00:00 (source: public-curves)

### UAE Federal T-Sukuk 2028
- URL: https://sukuk-haven-global.lovable.app/instrument/uae-t-sukuk-2028
- Issuer: UAE Ministry of Finance (sovereign, United Arab Emirates)
- ISIN: AED01283C235
- Structure: Ijarah
- Currency: AED
- Issue size: 4400000000 AED
- Profit rate: 4.35% (fixed, semi-annual)
- Yield to maturity: 4.21%
- Indicative price: 100.4
- Issue date: 2023-08-24 | Maturity: 2028-08-24
- Ratings: Moody's Aa2, S&P AA, Fitch AA-
- Listing: Nasdaq Dubai | Governing law: UAE law
- Shariah advisor: UAE Higher Shariah Authority | AAOIFI compliant: yes
- Underlying asset: Federal government assets under an Ijarah arrangement
- Green/ESG: no | Tokenized: no | Status: listed
- Description: Dirham-denominated federal Treasury Sukuk issued through scheduled auctions to build a local currency Islamic yield curve.
- Price as of: 2026-08-10T08:04:30.170389+00:00 (source: curated)

### Tabreed USD 700m Green Sukuk 2030
- URL: https://sukuk-haven-global.lovable.app/instrument/tabreed-green-2030
- Issuer: Tabreed (corporate, United Arab Emirates)
- ISIN: XS2760043519
- Structure: Wakalah
- Currency: USD
- Issue size: 700000000 USD
- Profit rate: 5.279% (fixed, semi-annual)
- Yield to maturity: 5.183%
- Indicative price: 100.304
- Issue date: 2025-03-05 | Maturity: 2030-03-05
- Ratings: Moody's Baa2, S&P BBB, Fitch n/a
- Listing: London Stock Exchange ISM | Governing law: English law
- Shariah advisor: Internal Shariah Supervisory Committee | AAOIFI compliant: yes
- Underlying asset: District cooling plants and related assets
- Green/ESG: yes | Tokenized: no | Status: listed
- Description: Tabreed's inaugural green sukuk, 2.6x oversubscribed, the first drawdown under its USD 1.5bn trust certificate programme.
- Price as of: 2026-08-14T11:22:48.52+00:00 (source: public-curves)

### Aldar Properties USD 500m Green Sukuk 2029
- URL: https://sukuk-haven-global.lovable.app/instrument/aldar-green-2029
- Issuer: Aldar Properties (corporate, United Arab Emirates)
- ISIN: XS2519851122
- Structure: Ijarah
- Currency: USD
- Issue size: 500000000 USD
- Profit rate: 4.88% (fixed, semi-annual)
- Yield to maturity: 5.254%
- Indicative price: 98.974
- Issue date: 2024-09-10 | Maturity: 2029-09-10
- Ratings: Moody's Baa2, S&P BBB, Fitch n/a
- Listing: London Stock Exchange | Governing law: English law
- Shariah advisor: Dar Al Sharia | AAOIFI compliant: yes
- Underlying asset: Portfolio of investment properties in Abu Dhabi
- Green/ESG: yes | Tokenized: no | Status: listed
- Description: Green sukuk funding Aldar's sustainable real estate portfolio in Abu Dhabi.
- Price as of: 2026-08-14T11:22:48.52+00:00 (source: public-curves)

### Emaar Properties USD 500m Sukuk 2029
- URL: https://sukuk-haven-global.lovable.app/instrument/emaar-sukuk-2029
- Issuer: Emaar Properties (corporate, United Arab Emirates)
- ISIN: XS2306036989
- Structure: Wakalah
- Currency: USD
- Issue size: 500000000 USD
- Profit rate: 5.15% (fixed, semi-annual)
- Yield to maturity: 5.516%
- Indicative price: 99.001
- Issue date: 2024-07-18 | Maturity: 2029-07-18
- Ratings: Moody's Baa2, S&P BBB, Fitch n/a
- Listing: Nasdaq Dubai | Governing law: English law
- Shariah advisor: Dar Al Sharia | AAOIFI compliant: yes
- Underlying asset: Wakalah portfolio of leasehold assets
- Green/ESG: no | Tokenized: no | Status: listed
- Description: Sukuk from the developer of Downtown Dubai and the Burj Khalifa.
- Price as of: 2026-08-14T11:22:48.52+00:00 (source: public-curves)

### First Abu Dhabi Bank USD 800m Sukuk 2029
- URL: https://sukuk-haven-global.lovable.app/instrument/fab-sukuk-2029
- Issuer: First Abu Dhabi Bank (financial institution, United Arab Emirates)
- ISIN: XS2618232197
- Structure: Wakalah
- Currency: USD
- Issue size: 800000000 USD
- Profit rate: 4.58% (fixed, semi-annual)
- Yield to maturity: 4.804%
- Indicative price: 99.478
- Issue date: 2024-04-16 | Maturity: 2029-04-16
- Ratings: Moody's Aa3, S&P AA-, Fitch n/a
- Listing: London Stock Exchange | Governing law: English law
- Shariah advisor: Internal Shariah Supervisory Board | AAOIFI compliant: yes
- Underlying asset: Wakalah asset portfolio
- Green/ESG: no | Tokenized: no | Status: listed
- Description: Senior sukuk from the UAE's largest bank by assets.
- Price as of: 2026-08-14T11:22:48.52+00:00 (source: public-curves)

### Emirates NBD USD 1bn Senior Sukuk 2029
- URL: https://sukuk-haven-global.lovable.app/instrument/enbd-sukuk-2029
- Issuer: Emirates NBD (financial institution, United Arab Emirates)
- ISIN: XS2531125577
- Structure: Wakalah
- Currency: USD
- Issue size: 1000000000 USD
- Profit rate: 4.75% (fixed, semi-annual)
- Yield to maturity: 4.991%
- Indicative price: 99.336
- Issue date: 2024-06-12 | Maturity: 2029-06-12
- Ratings: Moody's A2, S&P A+, Fitch n/a
- Listing: Nasdaq Dubai | Governing law: English law
- Shariah advisor: Internal Shariah Supervisory Committee | AAOIFI compliant: yes
- Underlying asset: Wakalah portfolio of Shariah-compliant financing assets
- Green/ESG: no | Tokenized: no | Status: listed
- Description: Senior unsecured sukuk from Dubai's largest banking group.
- Price as of: 2026-08-14T11:22:48.52+00:00 (source: public-curves)

### Dubai Islamic Bank USD 750m Senior Sukuk 2029
- URL: https://sukuk-haven-global.lovable.app/instrument/dib-senior-2029
- Issuer: Dubai Islamic Bank (financial institution, United Arab Emirates)
- ISIN: XS2707831192
- Structure: Wakalah
- Currency: USD
- Issue size: 750000000 USD
- Profit rate: 4.8% (fixed, semi-annual)
- Yield to maturity: 5.026%
- Indicative price: 99.475
- Issue date: 2024-02-21 | Maturity: 2029-02-21
- Ratings: Moody's A3, S&P A, Fitch n/a
- Listing: Nasdaq Dubai | Governing law: English law
- Shariah advisor: DIB Internal Shariah Supervisory Committee | AAOIFI compliant: yes
- Underlying asset: Wakalah asset portfolio
- Green/ESG: no | Tokenized: no | Status: listed
- Description: Senior sukuk from the world's first full-service Islamic bank.
- Price as of: 2026-08-14T11:22:48.52+00:00 (source: public-curves)

### Majid Al Futtaim USD 500m Green Sukuk 2029
- URL: https://sukuk-haven-global.lovable.app/instrument/maf-green-2029
- Issuer: Majid Al Futtaim (corporate, United Arab Emirates)
- ISIN: XS2010026329
- Structure: Wakalah
- Currency: USD
- Issue size: 500000000 USD
- Profit rate: 4.95% (fixed, semi-annual)
- Yield to maturity: 5.366%
- Indicative price: 99.039
- Issue date: 2024-05-07 | Maturity: 2029-05-07
- Ratings: Moody's Baa1, S&P BBB, Fitch n/a
- Listing: Nasdaq Dubai | Governing law: English law
- Shariah advisor: Dar Al Sharia | AAOIFI compliant: yes
- Underlying asset: Wakalah portfolio of shopping malls and hotels
- Green/ESG: yes | Tokenized: no | Status: listed
- Description: The region's pioneering corporate green sukuk, refinancing certified green buildings.
- Price as of: 2026-08-14T11:22:48.52+00:00 (source: public-curves)

### UAE Federal T-Sukuk 2029
- URL: https://sukuk-haven-global.lovable.app/instrument/uae-t-sukuk-2029
- Issuer: UAE Ministry of Finance (sovereign, United Arab Emirates)
- ISIN: AED01330C291
- Structure: Ijarah
- Currency: AED
- Issue size: 3300000000 AED
- Profit rate: 4.15% (fixed, semi-annual)
- Yield to maturity: 4.2%
- Indicative price: 99.8
- Issue date: 2024-05-15 | Maturity: 2029-05-15
- Ratings: Moody's Aa2, S&P AA, Fitch AA-
- Listing: Nasdaq Dubai | Governing law: UAE law
- Shariah advisor: UAE Higher Shariah Authority | AAOIFI compliant: yes
- Underlying asset: Federal government assets
- Green/ESG: no | Tokenized: no | Status: listed
- Description: Five-year dirham T-Sukuk auctioned to primary dealers and eligible institutional investors.
- Price as of: 2026-08-10T08:04:30.170389+00:00 (source: curated)

### Dubai Islamic Bank Additional Tier 1 Sukuk
- URL: https://sukuk-haven-global.lovable.app/instrument/dib-tier1-perp
- Issuer: Dubai Islamic Bank (financial institution, United Arab Emirates)
- ISIN: XS2542173330
- Structure: Mudarabah
- Currency: USD
- Issue size: 750000000 USD
- Profit rate: 6.25% (fixed, semi-annual)
- Yield to maturity: 5.85%
- Indicative price: 102.3
- Issue date: 2024-01-17 | Maturity: n/a
- Ratings: Moody's n/a, S&P BB+, Fitch n/a
- Listing: Euronext Dublin | Governing law: English law
- Shariah advisor: DIB Internal Shariah Supervisory Committee | AAOIFI compliant: yes
- Underlying asset: Mudarabah in the bank's general business
- Green/ESG: no | Tokenized: no | Status: listed
- Description: Perpetual non-call five Additional Tier 1 sukuk qualifying as regulatory capital.
- Price as of: 2026-08-10T08:04:30.170389+00:00 (source: curated)

## Saudi Arabia (8 issues)

### Public Investment Fund USD 2bn Sukuk 2031
- URL: https://sukuk-haven-global.lovable.app/instrument/pif-sukuk-2031
- Issuer: Public Investment Fund (quasi sovereign, Saudi Arabia)
- ISIN: XS2624502139
- Structure: Wakalah
- Currency: USD
- Issue size: 2000000000 USD
- Profit rate: 5.05% (fixed, semi-annual)
- Yield to maturity: 5.351%
- Indicative price: 98.695
- Issue date: 2024-10-08 | Maturity: 2031-10-08
- Ratings: Moody's Aa3, S&P A+, Fitch n/a
- Listing: London Stock Exchange | Governing law: English law
- Shariah advisor: Shariah advisors to the programme | AAOIFI compliant: yes
- Underlying asset: Wakalah portfolio of investment assets
- Green/ESG: no | Tokenized: no | Status: listed
- Description: International sukuk from Saudi Arabia's sovereign wealth fund, supporting Vision 2030 investments.
- Price as of: 2026-08-14T11:22:48.52+00:00 (source: public-curves)

### Al Rajhi Bank USD 1bn Senior Sukuk 2030
- URL: https://sukuk-haven-global.lovable.app/instrument/al-rajhi-senior-2030
- Issuer: Al Rajhi Bank (financial institution, Saudi Arabia)
- ISIN: XS2793120845
- Structure: Wakalah
- Currency: USD
- Issue size: 1000000000 USD
- Profit rate: 4.9% (fixed, semi-annual)
- Yield to maturity: 5.106%
- Indicative price: 99.347
- Issue date: 2025-01-22 | Maturity: 2030-01-22
- Ratings: Moody's A1, S&P A-, Fitch n/a
- Listing: London Stock Exchange | Governing law: English law
- Shariah advisor: Al Rajhi Shariah Board | AAOIFI compliant: yes
- Underlying asset: Wakalah asset portfolio
- Green/ESG: no | Tokenized: no | Status: listed
- Description: Senior sukuk currently open for subscription through participating distributors.
- Price as of: 2026-08-14T11:22:48.52+00:00 (source: public-curves)

### Kingdom of Saudi Arabia USD 5bn Sukuk 2035
- URL: https://sukuk-haven-global.lovable.app/instrument/ksa-sukuk-2035
- Issuer: Kingdom of Saudi Arabia (sovereign, Saudi Arabia)
- ISIN: XS2839172284
- Structure: Ijarah / Murabahah hybrid
- Currency: USD
- Issue size: 5000000000 USD
- Profit rate: 5.25% (fixed, semi-annual)
- Yield to maturity: 5.515%
- Indicative price: 98.14
- Issue date: 2025-05-28 | Maturity: 2035-05-28
- Ratings: Moody's A1, S&P A+, Fitch A+
- Listing: London Stock Exchange | Governing law: English law
- Shariah advisor: Shariah committees of the joint lead managers | AAOIFI compliant: yes
- Underlying asset: Portfolio of tangible sovereign assets and Murabahah receivables
- Green/ESG: no | Tokenized: no | Status: listed
- Description: Benchmark ten-year international sukuk from the world's largest sovereign sukuk issuer.
- Price as of: 2026-08-14T11:22:48.52+00:00 (source: public-curves)

### Saudi Aramco USD 3bn Sukuk 2029
- URL: https://sukuk-haven-global.lovable.app/instrument/aramco-sukuk-2029
- Issuer: Saudi Aramco (quasi sovereign, Saudi Arabia)
- ISIN: XS2358236332
- Structure: Wakalah / Murabahah
- Currency: USD
- Issue size: 3000000000 USD
- Profit rate: 4.85% (fixed, semi-annual)
- Yield to maturity: 4.926%
- Indicative price: 99.79
- Issue date: 2024-09-17 | Maturity: 2029-09-17
- Ratings: Moody's Aa3, S&P A+, Fitch n/a
- Listing: London Stock Exchange | Governing law: English law
- Shariah advisor: Aramco sukuk Shariah committee | AAOIFI compliant: yes
- Underlying asset: Wakalah portfolio of tangible assets and Murabahah receivables
- Green/ESG: no | Tokenized: no | Status: listed
- Description: Tranche of Aramco's USD international sukuk programme, heavily oversubscribed at pricing.
- Price as of: 2026-08-14T11:22:48.52+00:00 (source: public-curves)

### Kingdom of Saudi Arabia USD 3bn Sukuk 2031
- URL: https://sukuk-haven-global.lovable.app/instrument/ksa-sukuk-2031
- Issuer: Kingdom of Saudi Arabia (sovereign, Saudi Arabia)
- ISIN: XS2703140998
- Structure: Ijarah / Murabahah hybrid
- Currency: USD
- Issue size: 3000000000 USD
- Profit rate: 4.95% (fixed, semi-annual)
- Yield to maturity: 5.087%
- Indicative price: 99.402
- Issue date: 2024-05-28 | Maturity: 2031-05-28
- Ratings: Moody's A1, S&P A+, Fitch A+
- Listing: London Stock Exchange | Governing law: English law
- Shariah advisor: Shariah committees of the joint lead managers | AAOIFI compliant: yes
- Underlying asset: Sovereign asset portfolio
- Green/ESG: no | Tokenized: no | Status: listed
- Description: Six-year tranche of the Kingdom's international sukuk programme.
- Price as of: 2026-08-14T11:22:48.52+00:00 (source: public-curves)

### Saudi Electricity USD 1.2bn Green Sukuk 2030
- URL: https://sukuk-haven-global.lovable.app/instrument/sec-green-2030
- Issuer: Saudi Electricity Company (quasi sovereign, Saudi Arabia)
- ISIN: XS2242205680
- Structure: Wakalah
- Currency: USD
- Issue size: 1200000000 USD
- Profit rate: 5.1% (fixed, semi-annual)
- Yield to maturity: 5.338%
- Indicative price: 99.249
- Issue date: 2025-04-02 | Maturity: 2030-04-02
- Ratings: Moody's A1, S&P A+, Fitch n/a
- Listing: London Stock Exchange | Governing law: English law
- Shariah advisor: SEC Shariah committee | AAOIFI compliant: yes
- Underlying asset: Wakalah portfolio of transmission and distribution assets
- Green/ESG: yes | Tokenized: no | Status: listed
- Description: Green sukuk funding Saudi Arabia's grid modernisation and smart metering rollout.
- Price as of: 2026-08-14T11:22:48.52+00:00 (source: public-curves)

### Saudi Riyal Domestic Sukuk 2033
- URL: https://sukuk-haven-global.lovable.app/instrument/ksa-local-sukuk-2033
- Issuer: Kingdom of Saudi Arabia (sovereign, Saudi Arabia)
- ISIN: SA15L0Y33001
- Structure: Murabahah
- Currency: SAR
- Issue size: 9000000000 SAR
- Profit rate: 4.55% (fixed, semi-annual)
- Yield to maturity: 4.58%
- Indicative price: 99.9
- Issue date: 2025-03-19 | Maturity: 2033-03-19
- Ratings: Moody's A1, S&P A+, Fitch A+
- Listing: Saudi Exchange | Governing law: Saudi law
- Shariah advisor: NDMC Shariah panel | AAOIFI compliant: yes
- Underlying asset: Murabahah commodity transactions
- Green/ESG: no | Tokenized: no | Status: listed
- Description: Riyal-denominated domestic sukuk issued under the NDMC monthly programme.
- Price as of: 2026-08-10T08:04:30.170389+00:00 (source: curated)

### Al Rajhi Bank Additional Tier 1 Sukuk
- URL: https://sukuk-haven-global.lovable.app/instrument/al-rajhi-tier1
- Issuer: Al Rajhi Bank (financial institution, Saudi Arabia)
- ISIN: XS2617543214
- Structure: Mudarabah
- Currency: USD
- Issue size: 1000000000 USD
- Profit rate: 6.375% (fixed, semi-annual)
- Yield to maturity: 5.9%
- Indicative price: 102.8
- Issue date: 2024-03-14 | Maturity: n/a
- Ratings: Moody's n/a, S&P BBB, Fitch n/a
- Listing: London Stock Exchange | Governing law: English law
- Shariah advisor: Al Rajhi Shariah Board | AAOIFI compliant: yes
- Underlying asset: Mudarabah in the bank's general business
- Green/ESG: no | Tokenized: no | Status: listed
- Description: Perpetual non-call five AT1 sukuk from the world's largest Islamic bank.
- Price as of: 2026-08-10T08:04:30.170389+00:00 (source: curated)

## Malaysia (7 issues)

### Malaysia USD 650m Global Sukuk 2036
- URL: https://sukuk-haven-global.lovable.app/instrument/malaysia-global-sukuk-2036
- Issuer: Government of Malaysia (sovereign, Malaysia)
- ISIN: XS2884210228
- Structure: Manafae
- Currency: USD
- Issue size: 650000000 USD
- Profit rate: 4.35% (fixed, semi-annual)
- Yield to maturity: 4.878%
- Indicative price: 95.861
- Issue date: 2026-07-30 | Maturity: 2036-07-30
- Ratings: Moody's A3, S&P A-, Fitch BBB+
- Listing: Labuan International Financial Exchange | Governing law: English law
- Shariah advisor: AAOIFI-aligned Shariah advisers | AAOIFI compliant: yes
- Underlying asset: Rights to services within Malaysia's urban rail network
- Green/ESG: no | Tokenized: no | Status: listed
- Description: Ten-year tranche of Malaysia's record-tight 2026 global sukuk offering.
- Price as of: 2026-08-14T11:22:48.52+00:00 (source: public-curves)

### Malaysia USD 850m Global Sukuk 2032
- URL: https://sukuk-haven-global.lovable.app/instrument/malaysia-global-sukuk-2032
- Issuer: Government of Malaysia (sovereign, Malaysia)
- ISIN: XS2884210111
- Structure: Manafae
- Currency: USD
- Issue size: 850000000 USD
- Profit rate: 4.05% (fixed, semi-annual)
- Yield to maturity: 4.523%
- Indicative price: 97.719
- Issue date: 2026-07-30 | Maturity: 2032-04-30
- Ratings: Moody's A3, S&P A-, Fitch BBB+
- Listing: Labuan International Financial Exchange | Governing law: English law
- Shariah advisor: AAOIFI-aligned Shariah advisers | AAOIFI compliant: yes
- Underlying asset: Rights to services within Malaysia's urban public rail transportation network
- Green/ESG: no | Tokenized: no | Status: listed
- Description: 5.75-year tranche of Malaysia's 2026 global sukuk, 4.7x oversubscribed and priced at the tightest ever spread for the sovereign.
- Price as of: 2026-08-14T11:22:48.52+00:00 (source: public-curves)

### Tenaga Nasional MYR 3bn Green SRI Sukuk 2035
- URL: https://sukuk-haven-global.lovable.app/instrument/tenaga-green-2035
- Issuer: Tenaga Nasional (corporate, Malaysia)
- ISIN: MYBVK3500456
- Structure: Wakalah
- Currency: MYR
- Issue size: 3000000000 MYR
- Profit rate: 4.1% (fixed, semi-annual)
- Yield to maturity: 4.05%
- Indicative price: 100.3
- Issue date: 2025-09-12 | Maturity: 2035-09-12
- Ratings: Moody's A3, S&P n/a, Fitch BBB+
- Listing: Bursa Malaysia | Governing law: Malaysian law
- Shariah advisor: Shariah adviser appointed under the SRI framework | AAOIFI compliant: yes
- Underlying asset: Wakalah portfolio of generation assets
- Green/ESG: yes | Tokenized: no | Status: listed
- Description: Sustainable and Responsible Investment sukuk under Malaysia's SRI framework.
- Price as of: 2026-08-10T08:04:30.170389+00:00 (source: curated)

### Petronas USD 1.1bn Sukuk 2032
- URL: https://sukuk-haven-global.lovable.app/instrument/petronas-sukuk-2032
- Issuer: Petronas (quasi sovereign, Malaysia)
- ISIN: XS2412334567
- Structure: Wakalah
- Currency: USD
- Issue size: 1100000000 USD
- Profit rate: 4.2% (fixed, semi-annual)
- Yield to maturity: 4.85%
- Indicative price: 96.895
- Issue date: 2025-04-15 | Maturity: 2032-04-15
- Ratings: Moody's A2, S&P A-, Fitch n/a
- Listing: Labuan International Financial Exchange | Governing law: English law
- Shariah advisor: Petronas sukuk Shariah advisers | AAOIFI compliant: yes
- Underlying asset: Wakalah portfolio of energy assets
- Green/ESG: no | Tokenized: no | Status: listed
- Description: International sukuk from Malaysia's national oil company.
- Price as of: 2026-08-14T11:22:48.52+00:00 (source: public-curves)

### Khazanah USD 500m Sustainability Sukuk 2031
- URL: https://sukuk-haven-global.lovable.app/instrument/khazanah-sustainability-2031
- Issuer: Khazanah Nasional (quasi sovereign, Malaysia)
- ISIN: XS2673410992
- Structure: Wakalah
- Currency: USD
- Issue size: 500000000 USD
- Profit rate: 4.3% (fixed, semi-annual)
- Yield to maturity: 4.843%
- Indicative price: 97.828
- Issue date: 2025-03-05 | Maturity: 2031-03-05
- Ratings: Moody's A3, S&P n/a, Fitch A-
- Listing: Labuan International Financial Exchange | Governing law: English law
- Shariah advisor: Khazanah Shariah advisers | AAOIFI compliant: yes
- Underlying asset: Wakalah portfolio of eligible investments
- Green/ESG: yes | Tokenized: no | Status: listed
- Description: Sustainability sukuk from Malaysia's strategic investment fund.
- Price as of: 2026-08-14T11:22:48.52+00:00 (source: public-curves)

### Cagamas MYR 2bn Sukuk 2029
- URL: https://sukuk-haven-global.lovable.app/instrument/cagamas-sukuk-2029
- Issuer: Cagamas Berhad (quasi sovereign, Malaysia)
- ISIN: MYBVJ1900123
- Structure: Murabahah
- Currency: MYR
- Issue size: 2000000000 MYR
- Profit rate: 3.8% (fixed, semi-annual)
- Yield to maturity: 3.8%
- Indicative price: 100
- Issue date: 2025-02-27 | Maturity: 2029-02-27
- Ratings: Moody's A3, S&P n/a, Fitch A-
- Listing: Bursa Malaysia | Governing law: Malaysian law
- Shariah advisor: Cagamas Shariah committee | AAOIFI compliant: yes
- Underlying asset: Commodity Murabahah transactions
- Green/ESG: no | Tokenized: no | Status: listed
- Description: Ringgit sukuk funding the purchase of Islamic home financing from Malaysian banks.
- Price as of: 2026-08-10T08:04:30.170389+00:00 (source: curated)

### Malaysian Government Investment Issue 2034
- URL: https://sukuk-haven-global.lovable.app/instrument/mgii-2034
- Issuer: Government of Malaysia (sovereign, Malaysia)
- ISIN: MYBMO1400345
- Structure: Murabahah
- Currency: MYR
- Issue size: 5000000000 MYR
- Profit rate: 3.95% (fixed, semi-annual)
- Yield to maturity: 3.92%
- Indicative price: 100.1
- Issue date: 2024-08-15 | Maturity: 2034-08-15
- Ratings: Moody's A3, S&P A-, Fitch BBB+
- Listing: Bursa Malaysia | Governing law: Malaysian law
- Shariah advisor: Shariah Advisory Council of Bank Negara Malaysia | AAOIFI compliant: yes
- Underlying asset: Commodity Murabahah transactions
- Green/ESG: no | Tokenized: no | Status: listed
- Description: Ringgit-denominated government investment issue, the benchmark for Malaysia's domestic sukuk curve.
- Price as of: 2026-08-10T08:04:30.170389+00:00 (source: curated)

## Indonesia (2 issues)

### Republic of Indonesia USD 750m Green Sukuk 2031
- URL: https://sukuk-haven-global.lovable.app/instrument/indonesia-green-sukuk-2031
- Issuer: Republic of Indonesia (sovereign, Indonesia)
- ISIN: XS2334567890
- Structure: Wakalah
- Currency: USD
- Issue size: 750000000 USD
- Profit rate: 4.7% (fixed, semi-annual)
- Yield to maturity: 5.408%
- Indicative price: 96.934
- Issue date: 2025-06-05 | Maturity: 2031-06-05
- Ratings: Moody's Baa2, S&P BBB, Fitch BBB
- Listing: Singapore Exchange | Governing law: English law
- Shariah advisor: Indonesian National Shariah Board (DSN-MUI) | AAOIFI compliant: yes
- Underlying asset: State-owned assets and project assets
- Green/ESG: yes | Tokenized: no | Status: listed
- Description: Tranche of the world's first sovereign green sukuk programme.
- Price as of: 2026-08-14T11:22:48.52+00:00 (source: public-curves)

### Republic of Indonesia USD 1.5bn Sukuk 2034
- URL: https://sukuk-haven-global.lovable.app/instrument/indonesia-sukuk-2034
- Issuer: Republic of Indonesia (sovereign, Indonesia)
- ISIN: XS2334567991
- Structure: Wakalah
- Currency: USD
- Issue size: 1500000000 USD
- Profit rate: 4.95% (fixed, semi-annual)
- Yield to maturity: 5.795%
- Indicative price: 94.919
- Issue date: 2025-01-30 | Maturity: 2034-01-30
- Ratings: Moody's Baa2, S&P BBB, Fitch BBB
- Listing: Singapore Exchange | Governing law: English law
- Shariah advisor: DSN-MUI | AAOIFI compliant: yes
- Underlying asset: State-owned assets
- Green/ESG: no | Tokenized: no | Status: listed
- Description: Benchmark global sukuk from Southeast Asia's largest economy.
- Price as of: 2026-08-14T11:22:48.52+00:00 (source: public-curves)

## Qatar (2 issues)

### Qatar Islamic Bank USD 750m Sukuk 2029
- URL: https://sukuk-haven-global.lovable.app/instrument/qib-sukuk-2029
- Issuer: Qatar Islamic Bank (financial institution, Qatar)
- ISIN: XS2621509901
- Structure: Wakalah
- Currency: USD
- Issue size: 750000000 USD
- Profit rate: 4.75% (fixed, semi-annual)
- Yield to maturity: 5.008%
- Indicative price: 99.29
- Issue date: 2024-10-02 | Maturity: 2029-10-02
- Ratings: Moody's A1, S&P A, Fitch n/a
- Listing: London Stock Exchange | Governing law: English law
- Shariah advisor: QIB Shariah Supervisory Board | AAOIFI compliant: yes
- Underlying asset: Wakalah asset portfolio
- Green/ESG: no | Tokenized: no | Status: listed
- Description: Senior sukuk from Qatar's largest Islamic bank.
- Price as of: 2026-08-14T11:22:48.52+00:00 (source: public-curves)

### Qatar Islamic Bank USD 500m Sustainable Sukuk 2030
- URL: https://sukuk-haven-global.lovable.app/instrument/qib-sustainable-2030
- Issuer: Qatar Islamic Bank (financial institution, Qatar)
- ISIN: XS2802130991
- Structure: Wakalah
- Currency: USD
- Issue size: 500000000 USD
- Profit rate: 4.85% (fixed, semi-annual)
- Yield to maturity: 5.166%
- Indicative price: 98.871
- Issue date: 2025-05-20 | Maturity: 2030-05-20
- Ratings: Moody's A1, S&P A, Fitch n/a
- Listing: London Stock Exchange | Governing law: English law
- Shariah advisor: QIB Shariah Supervisory Board | AAOIFI compliant: yes
- Underlying asset: Wakalah portfolio of eligible sustainable assets
- Green/ESG: yes | Tokenized: no | Status: listed
- Description: Sustainability sukuk aligned with QIB's sustainable finance framework.
- Price as of: 2026-08-14T11:22:48.52+00:00 (source: public-curves)

## Bahrain (2 issues)

### Kingdom of Bahrain USD 1bn Ijarah Sukuk 2032
- URL: https://sukuk-haven-global.lovable.app/instrument/bahrain-ijarah-2032
- Issuer: Kingdom of Bahrain (sovereign, Bahrain)
- ISIN: XS2412001234
- Structure: Ijarah
- Currency: USD
- Issue size: 1000000000 USD
- Profit rate: 6.25% (fixed, semi-annual)
- Yield to maturity: 7.207%
- Indicative price: 95.717
- Issue date: 2025-02-12 | Maturity: 2032-02-12
- Ratings: Moody's B2, S&P B+, Fitch B+
- Listing: London Stock Exchange | Governing law: English law
- Shariah advisor: Central Bank of Bahrain Shariah board | AAOIFI compliant: yes
- Underlying asset: Sovereign real estate leased under Ijarah
- Green/ESG: no | Tokenized: no | Status: listed
- Description: High yielding sovereign Ijarah sukuk from a long-standing Islamic finance centre.
- Price as of: 2026-08-14T11:22:48.52+00:00 (source: public-curves)

### Bahrain Short-Term Salam Sukuk
- URL: https://sukuk-haven-global.lovable.app/instrument/bahrain-salam-2026
- Issuer: Kingdom of Bahrain (sovereign, Bahrain)
- ISIN: BH0002230011
- Structure: Salam
- Currency: BHD
- Issue size: 43000000 BHD
- Profit rate: 5.2% (fixed, at maturity)
- Yield to maturity: 5.2%
- Indicative price: 99.9
- Issue date: 2026-06-10 | Maturity: 2026-09-10
- Ratings: Moody's B2, S&P B+, Fitch B+
- Listing: Bahrain Bourse | Governing law: Bahrain law
- Shariah advisor: Central Bank of Bahrain Shariah board | AAOIFI compliant: yes
- Underlying asset: Aluminium commodity under a Salam contract
- Green/ESG: no | Tokenized: no | Status: listed
- Description: Monthly 91-day Salam sukuk used by Bahraini banks for liquidity management.
- Price as of: 2026-08-10T08:04:30.170389+00:00 (source: curated)

## Pakistan (1 issues)

### Islamic Republic of Pakistan Ijarah Sukuk 2029
- URL: https://sukuk-haven-global.lovable.app/instrument/pakistan-ijarah-2029
- Issuer: Islamic Republic of Pakistan (sovereign, Pakistan)
- ISIN: PK0110001234
- Structure: Ijarah
- Currency: PKR
- Issue size: 30000000000 PKR
- Profit rate: 12.5% (fixed, semi-annual)
- Yield to maturity: 12.8%
- Indicative price: 99
- Issue date: 2025-07-18 | Maturity: 2029-07-18
- Ratings: Moody's Caa2, S&P CCC+, Fitch CCC+
- Listing: Pakistan Stock Exchange | Governing law: Pakistan law
- Shariah advisor: State Bank of Pakistan Shariah board | AAOIFI compliant: yes
- Underlying asset: Motorway assets leased under Ijarah
- Green/ESG: no | Tokenized: no | Status: listed
- Description: Domestic sovereign Ijarah sukuk backed by motorway assets.
- Price as of: 2026-08-10T08:04:30.170389+00:00 (source: curated)

## United Kingdom (1 issues)

### UK Sovereign Sukuk GBP 500m 2026
- URL: https://sukuk-haven-global.lovable.app/instrument/uk-sovereign-sukuk-2026
- Issuer: HM Treasury United Kingdom (sovereign, United Kingdom)
- ISIN: XS2087654321
- Structure: Ijarah
- Currency: GBP
- Issue size: 500000000 GBP
- Profit rate: 2% (fixed, semi-annual)
- Yield to maturity: 2.05%
- Indicative price: 99.9
- Issue date: 2021-07-22 | Maturity: 2026-07-22
- Ratings: Moody's Aa3, S&P AA, Fitch AA-
- Listing: London Stock Exchange | Governing law: English law
- Shariah advisor: Independent Shariah advisers | AAOIFI compliant: yes
- Underlying asset: Central government office properties under Ijarah
- Green/ESG: no | Tokenized: no | Status: matured
- Description: The UK's second sovereign sukuk, reinforcing London as a Western Islamic finance hub.
- Price as of: 2026-08-10T08:04:30.170389+00:00 (source: curated)

## Hong Kong (1 issues)

### Hong Kong SAR USD 1bn Sukuk 2029
- URL: https://sukuk-haven-global.lovable.app/instrument/hong-kong-sukuk-2029
- Issuer: Hong Kong SAR Government (sovereign, Hong Kong)
- ISIN: XS2200123456
- Structure: Wakalah
- Currency: USD
- Issue size: 1000000000 USD
- Profit rate: 4.15% (fixed, semi-annual)
- Yield to maturity: 4.618%
- Indicative price: 98.503
- Issue date: 2024-12-04 | Maturity: 2029-12-04
- Ratings: Moody's Aa3, S&P AA+, Fitch n/a
- Listing: Hong Kong Stock Exchange | Governing law: English law
- Shariah advisor: Shariah advisers to the programme | AAOIFI compliant: yes
- Underlying asset: Wakalah portfolio of government properties
- Green/ESG: no | Tokenized: no | Status: listed
- Description: US dollar sukuk under Hong Kong's Government Bond Programme, one of the highest rated sukuk globally.
- Price as of: 2026-08-14T11:22:48.52+00:00 (source: public-curves)

## Kuwait (1 issues)

### Kuwait Finance House USD 1bn Sukuk 2029
- URL: https://sukuk-haven-global.lovable.app/instrument/kfh-sukuk-2029
- Issuer: Kuwait Finance House (financial institution, Kuwait)
- ISIN: XS2510041233
- Structure: Wakalah
- Currency: USD
- Issue size: 1000000000 USD
- Profit rate: 4.7% (fixed, semi-annual)
- Yield to maturity: 4.994%
- Indicative price: 99.19
- Issue date: 2024-11-06 | Maturity: 2029-11-06
- Ratings: Moody's A1, S&P A, Fitch n/a
- Listing: Euronext Dublin | Governing law: English law
- Shariah advisor: KFH Fatwa and Shariah Supervisory Board | AAOIFI compliant: yes
- Underlying asset: Wakalah asset portfolio
- Green/ESG: no | Tokenized: no | Status: listed
- Description: Senior sukuk from one of the pioneers of modern Islamic banking.
- Price as of: 2026-08-14T11:22:48.52+00:00 (source: public-curves)

## Türkiye (1 issues)

### Republic of Türkiye USD 2.5bn Lease Certificates 2030
- URL: https://sukuk-haven-global.lovable.app/instrument/turkiye-sukuk-2030
- Issuer: Republic of Türkiye (sovereign, Türkiye)
- ISIN: XS2601123456
- Structure: Ijarah
- Currency: USD
- Issue size: 2500000000 USD
- Profit rate: 7.875% (fixed, semi-annual)
- Yield to maturity: 8.429%
- Indicative price: 98.351
- Issue date: 2025-02-05 | Maturity: 2030-02-05
- Ratings: Moody's B1, S&P BB-, Fitch BB-
- Listing: London Stock Exchange | Governing law: English law
- Shariah advisor: Shariah advisers to the joint lead managers | AAOIFI compliant: yes
- Underlying asset: State-owned real estate under an Ijarah arrangement
- Green/ESG: no | Tokenized: no | Status: listed
- Description: US dollar lease certificates issued by the Turkish Treasury's asset leasing company.
- Price as of: 2026-08-14T11:22:48.52+00:00 (source: public-curves)

## Oman (1 issues)

### Sultanate of Oman OMR 200m Sukuk 2032
- URL: https://sukuk-haven-global.lovable.app/instrument/oman-sukuk-2032
- Issuer: Sultanate of Oman (sovereign, Oman)
- ISIN: OM0000061234
- Structure: Ijarah
- Currency: OMR
- Issue size: 200000000 OMR
- Profit rate: 5% (fixed, semi-annual)
- Yield to maturity: 4.95%
- Indicative price: 100.2
- Issue date: 2025-06-24 | Maturity: 2032-06-24
- Ratings: Moody's Ba1, S&P BB+, Fitch BB+
- Listing: Muscat Stock Exchange | Governing law: Omani law
- Shariah advisor: Ministry of Finance Shariah panel | AAOIFI compliant: yes
- Underlying asset: Government-owned real estate leased under Ijarah
- Green/ESG: no | Tokenized: no | Status: listed
- Description: Rial-denominated sovereign sukuk supporting Oman's domestic Islamic capital market.
- Price as of: 2026-08-10T08:04:30.170389+00:00 (source: curated)

---

# Reference answers

## What is a sukuk?

A sukuk is a Shariah-compliant investment certificate representing proportional ownership in an asset, project or business activity, rather than a debt obligation. Holders receive periodic distributions generated by that underlying asset instead of interest. Sukuk are issued by governments and corporates, listed on exchanges, rated by agencies, and traded much like bonds.

Key facts:
- A sukuk certifies ownership of an asset or usufruct, not a loan.
- Returns come from rent, profit or trade margin on the underlying asset — never from interest (riba).
- Most sukuk are structured as Ijarah (lease), Wakalah (agency), Murabahah (cost-plus sale), Mudarabah or Musharakah (partnership).
- Sukuk are approved by a Shariah supervisory board and often certified against AAOIFI standards.
- The global sukuk market is dominated by Malaysia, Saudi Arabia, the UAE and Indonesia.

### How a sukuk differs from a bond

A bond is a loan: the issuer owes the investor principal plus interest. A sukuk is an ownership stake: the investor owns a share of a tangible asset, a lease stream or a business venture, and is paid from what that asset earns.
In practice most sovereign sukuk are structured so cash flows resemble a bond's coupon and redemption, which is why they are priced off the same yield curves and rated by the same agencies. The legal and Shariah architecture, however, is fundamentally different.

### The main sukuk structures

Ijarah: the issuer sells an asset to a special purpose vehicle, leases it back, and lease rentals fund the distributions. This is the most common sovereign structure.
Wakalah: investors appoint the issuer as agent to invest proceeds in a portfolio of Shariah-compliant assets, targeting an expected return.
Murabahah: a cost-plus sale of a commodity where the deferred payment creates the return.
Mudarabah and Musharakah: profit-sharing partnerships, where returns depend on the venture's actual performance.
Hybrid sukuk combine several of these, typically a mix of tangible assets and receivables to satisfy tradability rules.

### Who issues sukuk

Sovereigns and their finance ministries, central banks and multilateral bodies such as the Islamic Development Bank raise benchmark funding through sukuk. Corporates — utilities, airlines, banks, telecoms and real estate developers — use them for both local-currency and international funding.

Source: https://sukuk-haven-global.lovable.app/answers/what-is-a-sukuk

## What is the difference between sukuk and bonds?

The core difference is ownership versus debt. A bondholder lends money and is paid interest; a sukuk holder owns a share of an asset and is paid from what that asset generates. Sukuk require a Shariah board, an underlying asset and prohibited-activity screening, while pricing, ratings and settlement work much like conventional bonds.

Key facts:
- Bond = debt claim, sukuk = asset ownership claim.
- Bond return = interest; sukuk return = rent, profit share or trade margin.
- Sukuk require Shariah approval and an identifiable underlying asset.
- Sukuk cannot fund alcohol, gambling, conventional interest-based finance, tobacco or adult industries.
- Both are rated, listed and priced off benchmark yield curves.

### Side-by-side comparison

Legal claim: bondholders rank as creditors; sukuk holders hold a beneficial interest in the asset or venture (though most sovereign sukuk are structured to give equivalent recourse to the obligor).
Income: bonds pay a fixed or floating coupon. Sukuk pay periodic distributions from asset cash flows, most often at a fixed profit rate that looks like a coupon.
Default: bond defaults are resolved through creditor claims. Sukuk defaults may involve claims on the asset, and this is where asset-backed and asset-based sukuk differ sharply.
Trading: Ijarah and hybrid sukuk with sufficient tangible assets trade freely in the secondary market. Pure Murabahah receivables sukuk face tradability restrictions in many jurisdictions.

### Asset-backed vs asset-based

Asset-based sukuk — the large majority — give investors recourse to the issuer, with the asset used to make the structure Shariah-compliant. Asset-backed sukuk give true recourse to the asset itself and behave more like securitisation. The distinction matters most in a default scenario, and it is disclosed in the offering circular.

Source: https://sukuk-haven-global.lovable.app/answers/sukuk-vs-bonds

## Are sukuk safe investments?

Sukuk are not risk-free, but investment-grade sovereign sukuk are among the lower-risk income instruments available. Safety depends on the issuer's credit rating, the currency, the tenor and the structure. Sovereign sukuk from Saudi Arabia, the UAE, Malaysia, Qatar and Indonesia carry investment-grade ratings; high-yield corporate sukuk carry materially more risk.

Key facts:
- Credit risk sits with the obligor, not the label — read the Moody's, S&P and Fitch ratings.
- Sovereign GCC and Malaysian sukuk are typically rated A to AA.
- Longer maturities carry more price sensitivity to rate moves (duration risk).
- Foreign-currency sukuk add exchange-rate risk for the investor.
- Secondary-market liquidity in sukuk is generally thinner than in comparable conventional bonds.

### The five risks that matter

Credit risk: can the obligor keep paying? The rating is the fastest proxy.
Profit-rate risk: when benchmark rates rise, the market price of existing fixed-rate sukuk falls.
Liquidity risk: many sukuk are bought and held to maturity by Islamic banks, so selling before maturity can mean a wider spread.
Currency risk: a USD sukuk held by a MYR or AED investor introduces FX exposure.
Structure and Shariah risk: whether investors have recourse to the asset or the obligor, and whether the structure remains certified compliant.

### How to screen for safer sukuk

Filter for sovereign or government-related issuers, an A- rating or better, maturities under seven years, and a currency matching your liabilities. Our screener lets you apply exactly those filters and export the result.

Source: https://sukuk-haven-global.lovable.app/answers/are-sukuk-safe-investments

## Are sukuk halal?

Sukuk are designed to be halal: they avoid interest, are backed by real assets, exclude prohibited industries, and are approved by a Shariah supervisory board before issuance. Compliance is not automatic — it depends on the specific structure, the underlying asset and whether the issue follows AAOIFI standards, all of which are disclosed per issue.

Key facts:
- Every sukuk is reviewed and certified by a Shariah supervisory board or advisor.
- AAOIFI Shariah Standard 17 is the most widely referenced benchmark for sukuk.
- Proceeds must not fund alcohol, gambling, pork, conventional interest-based lending, tobacco or adult entertainment.
- Tradability rules depend on the mix of tangible assets versus receivables in the structure.
- Scholarly opinion differs on some asset-based structures, so investors often check the named Shariah advisor.

### What makes a sukuk compliant

Three conditions: no riba (interest), no gharar (excessive uncertainty in the contract) and no haram activity in the use of proceeds. The return must be tied to a real economic transaction — a lease, a sale, or a share of profit.
Compliance is documented in a fatwa or pronouncement attached to the offering circular, naming the scholars who reviewed it.

### Where scholars disagree

The main debate concerns asset-based sukuk, where investors have recourse to the obligor rather than to the asset. Critics argue this replicates a debt claim. AAOIFI has tightened guidance over time, and many issuers now explicitly state AAOIFI conformity.

Source: https://sukuk-haven-global.lovable.app/answers/are-sukuk-halal

## What is the difference between Ijarah, Wakalah and Murabahah sukuk?

Ijarah sukuk are backed by a lease and pay rental income, making them the most common sovereign structure. Wakalah sukuk appoint the issuer as investment agent over a portfolio and target an expected return. Murabahah sukuk derive returns from a cost-plus commodity sale, produce receivables rather than assets, and therefore face secondary-market tradability limits.

Key facts:
- Ijarah = lease-based, fixed rentals, freely tradable.
- Wakalah = agency over a mixed asset portfolio, expected (not guaranteed) return.
- Murabahah = cost-plus sale, creates a debt receivable, tradability restricted in most jurisdictions.
- Mudarabah and Musharakah = profit-sharing partnerships with genuine performance risk.
- Hybrid sukuk blend tangible assets and receivables to meet the tangibility threshold, commonly 33% or 51%.

### Ijarah

An asset — typically land, buildings or infrastructure — is transferred to a special purpose vehicle, which leases it back to the originator. Lease rentals fund periodic distributions, and at maturity the asset is repurchased at the exercise price, redeeming the principal. Clean cash flows and full tradability make Ijarah the default choice for benchmark sovereign issues.

### Wakalah

Investors appoint a wakeel (agent) to invest proceeds in a Shariah-compliant portfolio, usually a mix of leases, shares and commodity murabahah. The agent targets an expected profit rate; surplus above it is typically retained as an incentive fee. Wakalah gives issuers flexibility where a single large tangible asset is not available.

### Murabahah

A commodity is bought and sold on at an agreed mark-up with deferred payment, and the mark-up is the return. Because the result is a monetary receivable, most scholars outside Malaysia prohibit trading it at anything other than par, which limits secondary market activity. It remains widely used in Malaysia and for short-tenor bank funding.

Source: https://sukuk-haven-global.lovable.app/answers/ijarah-vs-wakalah-vs-murabahah

## Which sukuk have the highest yield right now?

Yields on sukuk vary by issuer credit quality, currency and maturity. The highest yields in our universe generally come from longer-dated corporate and frontier sovereign issues, while short-dated GCC sovereign paper sits at the low end. The live table below ranks the current universe by yield to maturity, updated with each pricing refresh.

Key facts:
- Higher yield reflects higher credit or duration risk, not free income.
- Frontier sovereigns such as Pakistan and Türkiye price well above GCC sovereigns.
- Local-currency sukuk (MYR, IDR, TRY) yield more than USD issues but carry FX risk.
- Compare yield to maturity, not the coupon or profit rate.

### How to read the ranking

Yield to maturity is the annualised return if held to maturity at the current price. It already reflects any premium or discount to par, which the profit rate does not. Always read yield alongside the rating and the maturity date.

Source: https://sukuk-haven-global.lovable.app/answers/highest-yielding-sukuk

## How do I invest in UAE sukuk?

UAE sukuk are bought through a licensed bank or broker with access to Nasdaq Dubai, the Dubai Financial Market or the international over-the-counter market. Retail investors typically need a securities account and a minimum investment, often USD 200,000 for international issues, or can access UAE Treasury Sukuk in dirhams through participating local banks.

Key facts:
- UAE Treasury Sukuk (T-Sukuk) are dirham-denominated and issued by the Ministry of Finance.
- International UAE sukuk are usually USD-denominated with a USD 200,000 minimum denomination.
- Listing venues include Nasdaq Dubai, DFM, ADX and the London Stock Exchange.
- Access requires an account with a licensed broker or private bank — Sukuk Market does not execute trades.
- Sukuk income is untaxed in the UAE for individuals.

### The practical route

Screen the issues that fit your currency, tenor and rating requirements. Note the ISIN. Open or use an existing brokerage or private banking account that offers fixed income access. Ask for a live two-way price on that ISIN, since sukuk trade over the counter rather than on a continuous order book. Settle through Euroclear, Clearstream or the local depository.
Smaller allocations are usually easier through a sukuk or Islamic fixed income fund or ETF, which pools access below the institutional minimum.

### What Sukuk Market does

We are a screener and reference data service. We do not execute trades or hold client money. Registering interest on any instrument routes your enquiry to a licensed partner desk in the relevant jurisdiction.

Source: https://sukuk-haven-global.lovable.app/answers/how-to-invest-in-uae-sukuk

## What is a green sukuk?

A green sukuk is a Shariah-compliant certificate whose proceeds fund environmentally beneficial projects such as renewable energy, clean transport, green buildings or water infrastructure. It combines Islamic finance rules with green bond principles, requiring a use-of-proceeds framework, an external review and periodic impact reporting to investors.

Key facts:
- Indonesia issued the first sovereign green sukuk in 2018.
- Proceeds are ring-fenced for eligible green projects under a published framework.
- Issuers commit to allocation and impact reporting, usually annually.
- Malaysia's SRI Sukuk framework and the ICMA Green Bond Principles are the common reference points.
- Green sukuk sometimes price marginally tighter than conventional equivalents due to concentrated demand.

### Why the two frameworks fit together

Islamic finance already requires the funding of real, non-prohibited economic activity. Green frameworks add an environmental screen and reporting obligation on top. The overlap is why sustainability-linked and green issuance has grown fastest in Malaysia, Indonesia and the GCC.

Source: https://sukuk-haven-global.lovable.app/answers/green-sukuk-explained

## Sukuk or Islamic fixed deposits — which is better?

Islamic fixed deposits offer stable, short-term, capital-protected returns from a bank. Sukuk typically offer higher yields and longer tenors, but their price fluctuates and principal is repaid only at maturity by the issuer. Deposits suit near-term cash; sukuk suit investors seeking higher income who can hold to maturity.

Key facts:
- Deposits are covered by bank protection schemes in many jurisdictions; sukuk are not.
- Sukuk yields are generally higher, particularly beyond three years.
- Sukuk prices move with benchmark rates; deposit returns do not.
- Sukuk can be sold before maturity, at market price; breaking a deposit usually forfeits profit.
- Both must be Shariah-certified to be considered compliant.

### How to choose

Match the instrument to the horizon. Money needed within a year belongs in a deposit or a short-dated money market instrument. Income you can lock away for three to ten years earns materially more in sukuk, with the trade-off of mark-to-market movement in the interim.

Source: https://sukuk-haven-global.lovable.app/answers/sukuk-vs-fixed-deposits

## What is a tokenized sukuk?

A tokenized sukuk is a sukuk whose ownership records are issued and settled on a blockchain rather than through a traditional depository. Tokenization lowers minimum ticket sizes, shortens settlement, and makes fractional retail access practical. The Shariah structure is unchanged; only the record-keeping and distribution layer differs.

Key facts:
- Tokenization changes the settlement rails, not the underlying Shariah contract.
- It enables fractional denominations far below the usual USD 200,000 minimum.
- Regulatory recognition is emerging in the UAE, Bahrain, Malaysia and Singapore.
- Secondary trading depends on a licensed digital asset exchange being available in that jurisdiction.

### Why it matters for sukuk specifically

Sukuk have long been institutional instruments because of large minimum denominations and over-the-counter trading. Fractionalisation addresses both, which is why several GCC and Southeast Asian regulators have prioritised digital sukuk pilots.

Source: https://sukuk-haven-global.lovable.app/answers/tokenized-sukuk