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Nasdaq Dubai welcomes listing of $2 billion Sukuk

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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.
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 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.
- Wam

Published: Sun 1 Mar 2020, 7:37 PM

Updated: Sun 1 Mar 2020, 9:39 PM



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