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Nasdaq Dubai announces listing of IsDB’s $1.6bn Sukuk

Nasdaq Dubai announces listing of IsDB’s $1.6bn Sukuk
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UAE – Mubasher: Nasdaq Dubai has announced the listing of a $1.60 billion Sukuk by the Islamic Development Bank (IsDB) on 29 April.

The listing is IsDB’s first public Sukuk issuance in 2022, which aims to boost its position as the largest supranational institution issuing Sukuk on Nasdaq Dubai, according to a press release.

The five-year Trust Certificates were issued at par with a profit rate of 3.213%. The notes are payable on a semi-annual basis.

IsDB’s Sukuk issuance has increased the total value of Sukuk listed in Dubai to $77.50 billion.

The lender will use the proceeds of the Sukuk issuance to finance projects under development.

The lender has carried out 13 issuances on Nasdaq Dubai until the present time, with a total value of $18.04 billion.

Last October, IsDB listed $1.70 billion worth of Sukuk on Nasdaq Dubai.