Nasdaq Dubai has seen the listing of a $1.25bn Sukuk by the Islamic Development Bank, whose activities include financing development projects for its 57 member countries.
The listing brings the number of Sukuk listings by the IDB on the exchange to nine with a total value of $11.5 billion, making it one of the largest Sukuk issuers on Nasdaq Dubai.
IDB’s Sukuk support the bank’s economic and social advancement goals in line with Shari’ah principles. IDB participates in equity capital and grant loans for productive projects and enterprises as well as providing financial assistance to member countries in other forms. This includes financing infrastructure and agricultural projects such as roads, dams, schools, hospitals, housing, and rural development in the public and private sectors.