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IDB mulls Islamic bonds issuance with World Bank

IDB mulls Islamic bonds issuance with World Bank
Photo Credit: Arabianeye-Reuters

Mubasher: Islamic Development Bank (IDB) considers the issuance of Islamic bonds (sukuk) to help finance the reconstruction of countries damaged by war, with the World Bank as a potential joint issuer.

On the sidelines of an industry conference in Kuwait, IDB president Ahmad Mohamed Ali said that "we need to finalize this with the World Bank, but most likely it will be a joint issuance."

Refugee and reconstruction financing is a priority for the Jeddah-based IDB, which launched an initiative with the World Bank and United Nations to help more than 15 million people displaced across the region last month.