|28 April, 2019

Nasdaq Dubai welcomes listing of $1.5bln sukuk by IDB

IDB now has 10 Sukuk listed on the Middle East’s international financial exchange with a total value of $12.54billion.

Image used for illustrative purpose. People attend a ceremony for listing of Nasdaq Dubai at Dubai Financial Market (DFM) in Dubai, UAE September 5, 2016.

Image used for illustrative purpose. People attend a ceremony for listing of Nasdaq Dubai at Dubai Financial Market (DFM) in Dubai, UAE September 5, 2016.

REUTERS/Celine Aswad

DUBAI- Nasdaq Dubai today welcomed the listing of a US$1.5 billion Sukuk by Islamic Development Bank, IDB. The listing underlines Dubai’s role as the largest centre globally for Sukuk listings by nominal value currently totaling $60.89 billion.

IDB now has 10 Sukuk listed on the Middle East’s international financial exchange with a total value of $12.54 billion.

The multilateral lender, which finances development across its 57 member countries, first listed a Sukuk on Nasdaq Dubai in 2014. IDB’s activities include building partnerships between governments, the private sector and civil society; increasing skills and knowledge sharing; focusing on science, technology and innovation led solutions to development challenges; promoting global development that is underpinned by Sharia’a-compliant sustainable financing structures; and fostering collaboration between its members nations to focus on the betterment of humanity.

The managers for the Sukuk issuance were Credit Agricole Corporate and Investment Bank; Emirates NBD Capital, First Abu Dhabi Bank, Gulf International Bank, HSBC Bank plc, J.P. Morgan Securities plc, Natixis, and Standard Chartered Bank.

© Copyright Emirates News Agency (WAM) 2019.

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