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Wed 4 Dec 2019 03:11 PM

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Saudi lender lists first green sukuk on Nasdaq Dubai

Islamic Development Bank has 11 sukuk currently listed on Nasdaq Dubai with a total value of $13.65bn

Saudi lender lists first green sukuk on Nasdaq Dubai

IsDB’s latest sukuk is the second to be listed in euros by the bank on Nasdaq Dubai, underlining the exchange’s role as a multi-currency listing hub.

Nasdaq Dubai on Wednesday said it has welcomed the listing of a one billion euro ($1.11 billion) green sukuk by Islamic Development Bank (IsDB), the multilateral lender which finances development across its 57 member countries.

It is Saudi-based IsDB’s first green sukuk, issued under its Sustainable Finance Framework. It is also the third sukuk listing this year on the region’s international exchange by IsDB, following two listings of $1.5 billion each in April and October.

IsDB, headquartered in Jeddah, has 11 sukuk currently listed on Nasdaq Dubai with a total value of $13.65 billion.

IsDB’s latest sukuk is the second to be listed in euros by the bank on Nasdaq Dubai, underlining the exchange’s role as a multi-currency listing hub.

Dubai is one of the largest centres globally for sukuk listings by value, currently totaling $65.4 billion.

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