Dubai – Nasdaq Dubai welcomed the listing of a two billion US dollar Sukuk by Islamic Development Bank (IsDB), the multilateral lender which finances development across its 57 member countries.
The five-year Sukuk is the largest by value to be listed on the exchange by IsDB. The bank said it was priced at a profit rate of 1.809% payable on semi-annual basis. The Sukuk makes IsDB the leading Sukuk issuer by total value on Nasdaq Dubai at 15.64 billion US dollars.
The first of IsDB’s 12 current Sukuk listings on the exchange was a one billion US dollar instrument that listed in 2015. The other IsDB listings are three Sukuk of 1.5 billion US dollars each, a 1.3 billion US dollar Sukuk, four Sukuk of 1.25 billion US dollars each, a 650 million euro Sukuk and a 1.1 billion euro Sukuk.
IsDB’s activities across its member countries 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-compliant sustainable financing structures; and fostering collaboration between its members nations to focus on the betterment of humanity.
Dubai is one of the largest centres globally for Sukuk listings by value at 68.355 billion US dollars.
About Nasdaq Dubai
Nasdaq 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, Sukuk (Islamic bonds), conventional bonds and Real Estate Investment Trusts (REITS).
The majority shareholder of Nasdaq Dubai is Dubai Financial Market with a two-thirds stake. Borse Dubai owns one third of the shares. The regulator of Nasdaq Dubai is the Dubai Financial Services Authority (DFSA). Nasdaq Dubai is located in the Dubai International Financial Centre (DIFC).
© Press Release 2020