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The new Index will contain 98 Sukuk from 61 issuers that will have a current market value of over $90 billion. The Emirates NBD Markit iBoxx USD Sukuk index captures sovereign, sub-sovereign and corporate Sukuk from emerging and developed markets and will contain investment grade, sub investment grade and unrated securities. They will all offer a broad representation of the global Sukuk universe and provide combining transparency, multi-dimensional analysis, independence and flexibility, it will provide an accurate and objective benchmark for Islamic finance investors.
Developed by Emirates NBD Group in collaboration with IHS Markit, the Emirates NBD Markit iBoxx USD Sukuk Index is a market-cap weighted index dedicated to capturing the performance of the Sukuk market. It will be used for benchmarking, risk and performance analysis and as an underlying for tradable products. In order to meet the growing demand for Shari'ah-compliant solutions, it is envisaged that the Index will be utilised by a range of institutions including asset managers, banks, pensions and sovereign wealth funds and ETF issuers.