Saudi-based IDB more than doubles sukuk plans

  • Share via facebook
  • Tweet this
  • Bookmark and Share
SUKUK WATCH: Islamic Development Bank raised the ceiling of its Islamic bond issuance programme to $3.5bn.(Getty Images)

SUKUK WATCH: Islamic Development Bank raised the ceiling of its Islamic bond issuance programme to $3.5bn.(Getty Images)

The Islamic Development Bank (IDB) has raised the ceiling of its Islamic bond, or sukuk, issuance programme to $3.5 billion from $1.5 billion, the Saudi-based lender said on Sunday

"(IDB) has successfully updated its Sukuk Trust Certificate Issuance programme and increased the ceiling of the program from $1.5 billion to $3.5 billion," it said in a statement.

"This increase is to facilitate new issuance of Sukuk which will be used to finance a planned growth in IDB's operations," it added.

It did not say when it plans to sell its next sukuk. (Reuters)

Related:
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

Posted by: My ATM

Wow great article you got here.
I think Saudi Arabia's government is one of the strongest ones in Asia. They have the most dependable policies which every one in their countries follows.

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Why BMI is not an accurate assessment of your health

Why BMI is not an accurate assessment of your health

The secret to a longer life: Keep your waist half your height...

Transformers interview: Danielle Nay

Transformers interview: Danielle Nay

Creative producer and communications professional Danielle Nay...

Volunteering information: Interview with Kamel Al-Asmar

Volunteering information: Interview with Kamel Al-Asmar

Social entrepreneur Kamel Al-Asmar, founder of Amman-based Nakhweh...

Most Discussed