Font Size
Share this article


Print Friendly Version
02 March 2020
MARKETS

Islamic Development Bank lists $2 billion Sukuk on Nasdaq Dubai

The listing makes Islamic Development Bank the leading Sukuk issuer by total value on Nasdaq Dubai at $15.64 billion

The Sukuk was priced at a profit rate of 1.81per cent payable on a semi-annual basis.

by Kudakwashe Muzoriwa

Saudi-based Islamic Development Bank (IsDB) has listed its $2 billion five-year Sukuk on Nasdaq Dubai, the largest by value to be listed on the exchange by the Shari’ah-compliant lender.

IsDB, a multilateral lender which finances development across its 57 member countries, said that its Sukuk was priced at a profit rate of 1.81per cent payable on a semi-annual basis. 

The first of IsDB’s 12 current Sukuk listings on the exchange was a $1 billion instrument that was listed in 2015. The other listings by the lender are three Islamic bonds of $1.5 billion each, a $1.3 billion Sukuk, four Sukuk of $1.25 billion each, a EUR 650 million Sukuk and a EUR 1.1 billion Sukuk.

The bank’s activities across its member countries include promoting global development that is underpinned by Shari’ah-compliant sustainable financing structures, building partnerships between governments, the private sector, and civil society and focusing on science, technology and innovation-led solutions to development challenges.


RELATED STORIES: Islamic Development Bank Sukuk Nasdaq Dubai

MOST READ


RECOMMENDED NEWS



BRANDS MAGAZINES LATEST EDITION

OUR BRANDS



CPI Financial was established in Dubai in 1999 to meet the needs of an ever-expanding financial community, offering a comprehensive portfolio of market-leading products and services tailor-made for the banking and financial services sectors.


Subscribe to our News Letter

Subscribe

© 2019 CPI Financial. All rights reserved.

No part of this website may be reproduced or used in any form of advertising without prior permission in writing from the editor.