The World Bank (WB) is considering the issuance of a $100 million bond in the Dubai International Financial Center (DIFC) in the United Arab Emirates (UAE). Details of the issue will be finalized by October of this year, reported Al-Ittihad.
The initiative was suggested by WB President James Wolfensohn during his five-hour visit to Dubai earlier this week. He proposed a list of schemes for working with institutions in the DIFC to develop Islamic products for the WB.
The WB has been issuing debt securities in the international capital markets for more than 50 years. World Bank bonds are a suitable choice for investors pursuing socially responsible investment policies.
The bank’s debt issues are the funding source for development loans and have provided financing for more than 4,000 development projects in 130 countries through $300 billion in lending. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
