Islamic Development Bank announces its final issuances

The final price of issuance instruments by the bank was $1.7bln, due to five years of annual returns by 1.435%

  
A view of the exterior building of the Islamic Development Bank Group in Jeddah, Saudi Arabia May 31, 2018.

A view of the exterior building of the Islamic Development Bank Group in Jeddah, Saudi Arabia May 31, 2018.

REUTERS/Reem Baeshen
RIYADH: The Islamic Development Bank of Saudi Arabia has announced the price of its second and final issuances as part of its plan to mobilize financial resources.

The Saudi Press Agency reported the final price of issuance instruments by the bank was SR6.3 billion ($1.7 billion), due to five years of annual returns by 1.435 percent, as a part of the bank medium-term instruments program of SR93.7 billion ($25 billion).

The President of the Islamic Development Bank, Muhammed Sulaiman Al-Jassar, said he wanted to "thank investors" for trusting the institution during the recovery from the pandemic.

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