| 04 Nov 2009 |
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International Finance Corporation lists its first Sukuk on NASDAQ Dubai
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Listing supports exchange's status as world's largest platform for Sukuk listings
Dubai, November 4, 2009 - The International Finance Corporation (IFC)International Finance Corporation (IFC)
, a member of the World Bank Group, today listed its first Sukuk on NASDAQ DubaiNASDAQ Dubai, the international exchange serving the Middle East. Jeff Singer, Chief Executive of NASDAQ DubaiNASDAQ Dubai, said: "The launch of the IFCIFC's and the World Bank's first Sukuk and its listing on NASDAQ DubaiNASDAQ Dubai are a significant step in the continuing integration of Islamic finance into the global financial system.
"We are delighted to support the Sukuk as its primary listing venue, providing a regulatory structure that promotes transparency for investors and visibility for the issuer."
NASDAQ DubaiNASDAQ Dubai
is the world's largest exchange for Sukuk by listed value, with 21 listed Sukuk valued at $16.7 billion.HE Dr. Omar Bin Sulaiman, Governor of the Dubai International Financial CentreDubai International Financial Centre (DIFCDIFC) and Vice Chairman of the UAE Central Bank, said: "DIFCDIFC is delighted that the IFCIFC and World Bank Group selected NASDAQ DubaiNASDAQ Dubai as the primary listing venue for its first sukuk issue. As the first non-Islamic financial institution to issue a sukuk for term funding in the GCC, this truly is a ground breaking transaction and clearly demonstrates the growing importance of the region within the global financial system.
"NASDAQ DubaiNASDAQ Dubai
and DIFCDIFC remain instrumental in building the regulatory and legal infrastructure to develop a Islamic finance securities market and facilitate the creation of new financing opportunities for global issuers. This listing further enhances DIFCDIFC's stature as a leading global hub for Islamic finance transactions." The IFCIFC's $100 million Sukuk is the first to be issued by any non-Islamic financial institution in the Gulf Cooperation Council for term funding. The Sukuk has a Moody's Aaa rating and the IFCIFC has raised the money to fund health and education investments in the region. The IFCIFC announced the planned listing of the Sukuk last month.
The securities of IFCIFC's Sukuk are the first to be held on NASDAQ DubaiNASDAQ Dubai's central securities depositary, providing securities holders with an efficient and streamlined service.
-Ends-
About NASDAQ Dubai
NASDAQ DubaiNASDAQ Dubai is the international financial exchange serving the region between Western Europe and East Asia. It welcomes regional as well as global issuers that seek regional and international investment. The exchange currently lists shares, derivatives, exchange-traded commodities, structured products, Sukuk (Islamic bonds) and conventional bonds.
is Borse Dubai with a two-thirds stake. NASDAQ OMX Group owns one third of the shares. The regulator of NASDAQ DubaiNASDAQ Dubai is the Dubai Financial Services Authority (DFSA). NASDAQ DubaiNASDAQ Dubai is located in the Dubai International Financial CentreDubai International Financial Centre (DIFCDIFC). For more information, visit www.nasdaqdubai.com.For more information, contact:
Mark Fisher
NASDAQ Dubai
Tel: +971 4 3612220
Mob: +971 50 6245805
Email: Mark.fisher@nasdaqdubai.com
Mohamed Tahboub
Snr. Account Manager - Finance Practice
Jiwin Public Relations
Tel: +9714 3613598
Mob: +97150 157 6868
Email: Mohamed.Tahboub@jiwin.ae
© Press Release 2009
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