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)