Dubai – Mubasher: Islamic Development Bank (IDB) on Wednesday listed a $1.25 billion sukuk on Nasdaq Dubai.

This listing raised the number of IDB sukuk listings on the exchange to eight, with a total value of $10.25 billion, making it one of the largest sukuk issuers, according to a Nasdaq Dubai press release.

The Saudi-based bank has 57 member countries and its activities are designed to foster their economic development and social progress, Nasdaq Dubai said.

The listing will provide the IDB and its other regional and international issuers with close links to investors around the world as well as a first class listing infrastructure.

The UAE sukuk listings in Nasdaq totalled $52.47 billion, making the country a global leading centre for sukuk activity, Nasdaq Dubai added.