Listing underlines Dubai's role as the largest centre globally for sukuk listings by nominal value currently totaling $60.89bn
Nasdaq Dubai has welcomed the listing of a $1.5 billion sukuk by Islamic Development Bank (IDB).
The listing underlines Dubai’s role as the largest centre globally for sukuk listings by nominal value currently totaling $60.89 billion, Nasdaq Dubai said in a statement.
It added that IDB now has 10 sukuk listed on the international financial exchange with a total value of $12.54 billion.
The multilateral lender, which finances development across its 57 member countries, first listed a sukuk on Nasdaq Dubai in 2014.
IDB’s activities include building partnerships between governments, the private sector and civil society, increasing skills and knowledge sharing, focusing on science, technology and innovation led solutions to development challenges, promoting global development that is underpinned by Sharia’a-compliant sustainable financing structures, and fostering collaboration between its members nations to focus on the betterment of humanity.
The managers for the sukuk issuance were Crédit Agricole Corporate and Investment Bank, Emirates NBD Capital, First Abu Dhabi Bank, Gulf International Bank, HSBC Bank, JP Morgan Securities, Natixis, and Standard Chartered Bank.