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IDB lists $1.5bn sukuk on Nasdaq Dubai

IDB lists $1.5bn sukuk on Nasdaq Dubai
IDB’s listings on Nasdaq Dubai hit a total value of $12.54 billion

UAE – Mubasher: Islamic Development Bank (IDB), a multilateral development finance institution that is focused on Islamic finance located in Saudi Arabia, has made its 10th listing of $1.5 billion sukuk on Nasdaq Dubai.

Accordingly, IDB’s listings on Nasdaq Dubai hit a total value of $12.54 billion, Nasdaq Dubai said in a statement Sunday.

The listing highlights Dubai’s role as the largest centre globally for Sukuk listings by nominal value currently totalling 60.89 billion US dollars.

The Managers for the Sukuk issuance were Crédit Agricole Corporate, Investment Bank, Emirates NBD Capital, First Abu Dhabi Bank (FAB), Gulf International Bank, HSBC Bank, J.P. Morgan Securities, Natixis, and Standard Chartered Bank.

Financing development across its 57 member countries, IDB’s activities include building partnerships between governments, the private sector, and civil society.

It is worth noting that the multilateral lender listed its first Sukuk on Nasdaq Dubai in 2014.