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Nasdaq Dubai lists $2bn Sukuk by IsDB

Nasdaq Dubai lists $2bn Sukuk by IsDB
This marks the bank's largest Sukuk issuance by value

UAE – Mubadala: Nasdaq Dubai has welcomed the listing of five-year Sukuk issued by Islamic Development Bank (IsDB) at a value of $2 billion.

The Sukuk is the largest by value to be listed on Nasdaq Dubai by IsDB, the multilateral lender which finances development in 57 member countries, according to a press release on Sunday.

Priced at a profit rate of 1.809%, payable on a semi-annual basis, the Sukuk makes IsDB the leading Sukuk issuer on the exchange by a total of $15.64 billion.

In 2015, IsDB launched the first of its 12 Sukuk listings on the exchange at a value of $1 billion.

The other listings are three Sukuk issuances of $1.5 billion each, a separate $1.3 billion issuance, and four Sukuk listings each of which is valued at $1.25 billion, as well as EUR 650 million and EUR 1.1 billion Sukuk issuances.