NMDC Energy Joins FADXI15 Index as Part of Abu Dhabi’s Growing Shariah-Compliant Financial Market

NMDC Energy PJSC (ADX: NMDCENR), a prominent provider of engineering, procurement, and construction services in the energy sector, has been listed on the FADXI15 Index, marking it as one of the largest Shariah-compliant entities on the Abu Dhabi Securities Exchange (ADX). This listing follows NMDC Energy’s highly successful Initial Public Offering (IPO), which was oversubscribed 31.3 times.

The FADXI15 Index, developed by FTSE Russell in collaboration with ADX, includes 15 leading Shariah-compliant companies from Abu Dhabi. This index aims to attract global Islamic investors by establishing a reliable benchmark for Shariah-compliant investments in the Gulf Cooperation Council (GCC) region. Eng. Ahmed Salem Al Dhaheri, CEO of NMDC Energy, expressed pride in the achievement, highlighting the company’s growth and record-breaking profits, which underscore its pivotal role in expanding Islamic finance opportunities.

NMDC Energy reported exceptional financial results for the three months ending 30 September 2024, with a net profit increase of 145% year-on-year, rising from AED 164 million to AED 402 million. Revenue surged to AED 3.975 billion, reflecting a 110% increase from the same period in 2023. For the nine-month period, NMDC Energy reported a record-high net profit of AED 904 million, a 122% increase over the prior year, with revenues reaching AED 9.78 billion, up 96% from 2023.

With a market capitalization exceeding AED 2 trillion (USD 549 billion) in Shariah-compliant instruments, ADX remains committed to expanding its offerings in Islamic finance, catering to diverse investor needs, and advancing Abu Dhabi’s status as a hub for Shariah-compliant financial products.