Islamic Development to list new $1.2bn sukuk

Nasdaq Dubai has welcome the listing of a US$1.25 billion Islamic bond or sukuk issued by the Islamic Development Bank (IDB). The listing brings the number of sukuk listings by the IDB on the exchange to eight with a total value of $10.25bn, making it one of the largest Sukuk issuers on Nasdaq Dubai. IDB’s latest listing brings total sukuk listings in Dubai to $52.465bn. Based in Saudi Arabia, the IDB has 57 member countries and its activities foster their economic development and social progress. Sukuk listings in Dubai currently total $52.5bn.