Nasdaq Dubai to list $2 Billion Sukuk by the Islamic Development Bank

Published March 2nd, 2020 - 09:55 GMT
Nasdaq Dubai to list $2 Billion Sukuk by the Islamic Development Bank
The first of IDB's 12 current Sukuk listings on the exchange was a $1 billion instrument that listed in 2015. (Shutterstock)
Highlights
Nasdaq Dubai welcomed the listing of a $2 billion sukuk by the Islamic Development Bank (IDB), a multilateral lender which finances development across its 57 member countries.

Nasdaq Dubai welcomed the listing of a $2 billion Sukuk by the Islamic Development Bank (IDB), a multilateral lender that finances development across its 57 member countries.

The five-year Sukuk is the largest by value to be listed on the exchange by IDB, Nasdaq Dubai said in a press statement on Sunday. The bank said it was priced at a profit rate of 1.809 percent payable on a semi-annual basis. The Sukuk makes IDB the leading Sukuk issuer by total value on Nasdaq Dubai at $15.64 billion.

The first of IDB's 12 current Sukuk listings on the exchange was a $1 billion instrument that listed in 2015. The other IDB listings are three Sukuk of $1.5 billion each, a $1.3 billion Sukuk, four Sukuk of $1.25 billion each, a 650 million Sukuk and a 1.1 billion Sukuk.

Dubai is one of the largest centres globally for Sukuk listings by value at $68.355 billion.


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