HSBC, the global banking giant, and NASDAQ Dubai, the international financial exchange serving the region between Western Europe and East Asia, have strategically partnered to create a family of conventional and sukuk indices. This initiative aims at promoting the global sukuk industry as well as the regional bond market.
NASDAQ Dubai is one of the largest exchanges by value of listed sukuk, at more than 15 billion dollars. It is committed to promoting the sector. HSBC Amanah has been instrumental in shaping the growth of the sukuk industry in the region and has been at the forefront of innovation in the sukuk structuring business.
HSBC/ NASDAQ Dubai Partnership
NASDAQ Dubai and HSBC jointly operate three main indices, with various sub-indices. Both partners are committed to continually enhance, develop and refine the index family in order to meet the needs of global and regional investors and other stakeholders.
HSBC/ NASDAQ Dubai Family of Indices
The HSBC/NASDAQ Dubai indices track the performance of international sukuk and Middle Eastern conventional bonds. The indices are grouped into three major categories: Sukuk, Middle Eastern Conventional Bonds and Middle Eastern Aggregate.
- SKBI – Sukuk Indices
- MEBI –Middle Eastern Conventional Bond Indices
- MEAG – Middle Eastern Aggregate Indices
- HSGL - Local Currency Indices
These indices use the daily HSBC bid price at Middle East close. The indices provide daily updated information about the price movements in the sukuk and conventional bond secondary markets, on aggregate, regional and industry levels. The sub-indices also distinguish between types of issuers, i.e. sovereign and corporate.