Home Business Nasdaq Dubai welcomes listing of US$ 1.6 billion Sukuk by the Islamic Development Bank

Nasdaq Dubai welcomes listing of US$ 1.6 billion Sukuk by the Islamic Development Bank

by Dubai Forum
0 comment
Dubai Forum Default

DUBAI, 29th April, 2022 (WAM) — Nasdaq Dubai, the region’s international financial exchange, today welcomed the listing of a US$ 1.6 billion Sukuk by the Islamic Development Bank (IsDB).

The first public Sukuk issuance from IsDB in 2022 strengthens its position as the largest supranational institution issuing Sukuk on Nasdaq Dubai with a total value of US$ 18.04 billion currently listed through 13 issuances.

The Bank successfully priced the 5-year Trust Certificates at par with a profit rate of 3.213%, payable on a semi-annual basis.

The new listing also brings the total value of Sukuk listed in Dubai to US$ 77.5 billion, strengthening Dubai’s status as one of the largest Sukuk listing centres globally.

The proceeds of the issuance will be used to finance projects under the development mandate of the Bank.

WAM/Hazem Hussein

You may also like

Leave a Comment

About Us

Dubai Forum your daily news roundup covering news from Dubai, the United Arab Emirates and the Middle East region in general.

We share news about #people, #travel, #fashion, #startups and #Dubai #communities #DubaiForum

Newsletter