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Sun 18 Mar 2018 04:07 PM

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Islamic Development Bank lists $1.25 billion Sukuk on Nasdaq Dubai

The listing marks the ninth Sukuk by IDB on the exchange, with a total value of $11.5 billion.

Islamic Development Bank lists $1.25 billion Sukuk on Nasdaq Dubai

Nasdaq Dubai has welcomed the listing of a $1.25 billion Sukuk by the Islamic Development Bank (IDB), Nasdaq Dubai announced on Sunday.

The listing marks the ninth Sukuk by IDB on the exchange, with a total value of $11.5 billion, making the bank one of the largest Sukuk issuers on Nasdaq Dubai.

According to IDB, the Sukuk supports the banks economic and social advancement goals, in line with its Sharia principles.

IDB participates in equity capital and grant loans for projects and enterprises, in addition to providing financing to member countries in other forms, such as financing infrastructure and agricultural projects including roads, dams, schools, hospitals, housing and rural development projects in both the public and private sectors.

Dubai is the world’s leading centre for Sukuk listings by value, with a current total value of more than $57.7 billion.

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