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|28 February, 2019

Islamic Development Bank to raise $2bln in sukuks in 2019

The Islamic Development Bank (IsDB) will issue its first euro-dominated sukuk this year, President Bandar Hajjar said

US dollars.

US dollars.

Getty Images/Sutthipong Kongtrakool

RABAT- The Islamic Development Bank (IsDB) will raise around 2 billion dollars through multiple sukuk issuances this year, President Bandar Hajjar said on Thursday.

The bank, which operates in 57 countries, sold over 600 million euros in its first euro-dominated bond last year, Bandar told Reuters on the sidelines of a conference in Rabat.

"This is a breakthrough in our sukuk plan," he said.

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(Reporting by Ahmed Eljechtimi) ((ahmed.eljechtimi@thomsonreuters.com;))

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