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Report: Nasdaq Dubai to open sukuk market to individual investors by 2019

Nasdaq Dubai Ltd. is preparing technological infrastructure which will allow sukuk, or Islamic bonds, to be offered to individual investors by 2019, Reuters reported Aug. 13.

The Dubai International Finance Centre is advising the bourse as it plans to launch a "product which provides a minimal investment limit and a Shariah-compliant interest rate," Nasdaq Dubai CEO Hamed Ahmed Ali told al-Bayan Newspaper, according to Reuters.

The Dubai Islamic Economy Development Centre, which is a government entity focusing on promoting Islamic economics, has been collaborating with the bourse to develop and introduce retail sukuk investments, the newswire noted.

Nasdaq Dubai operates as a subsidiary of Dubai Financial Market PJSC, which is ultimately owned by the Government of Dubai.