By Souhail Karam
Islamic Development Bank raises ceiling of its Islamic bond issuance programme to $3.5bn
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)For all the latest UAE news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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.