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IsDB lists $1.7bn Sukuk on Nasdaq Dubai

IsDB lists $1.7bn Sukuk on Nasdaq Dubai
This issuance is the second listing by IsDB on Nasdaq Dubai

UAE - Mubasher: The Islamic Development Bank (IsDB) has celebrated the listing of a $1.7 billion Sukuk on Nasdaq Dubai.

This issuance is the second listing by IsDB on Nasdaq Dubai in 2021, as the bank listed its second Sustainability Sukuk worth $2.5 billion in April 2021, according to a press release on Tuesday.

The five-year Sukuk issuance attracted over $2.4 billion worth of orders, with the proceeds to be used for the bank's development mandate.

Since 2016, IsDB has listed 13 issuances on the region's international financial exchange with a total value of $18.8 billion.

The Vice President of Finance and Chief Financial Officer (CFO) of the IsDB, Zamir Iqbal, said: "We are pleased to see our relationship with Nasdaq Dubai growing stronger with this new listing of our landmark Sukuk issuance, which reaffirms IsDB’s commitment to mobilize sustainable capital flows on the back of our top-tier AAA-rating and provide cost-effective financing for our Member Countries’ recovery from the pandemic."

Meanwhile, the CEO of Nasdaq Dubai, Hamed Ali, commented: "We are committed to continuous progression of Nasdaq Dubai’s regulations and services to support prominent issuers in implementing their financing and growth plans and linking them with regional and international investors who are seeking lucrative investments in this sector."