$2 billion sukuk listed at Nasdaq Dubai by IDB

By DG Staff

DUBAI 2 March 2020: Nasdaq Dubai welcomed the listing of a US$2 billion sukuk by the Islamic Development Bank (IsDB), 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 IsDB, Nasdaq Dubai said in a statement. The bank said it was priced at a profit rate of 1.809 percent payable on semi-annual basis. The sukuk makes IsDB the leading sukuk issuer by total value on Nasdaq Dubai at $15.64 billion.

The first of IsDB’s 12 current sukuk listings on the exchange was a $1 billion instrument that listed in 2015. The other IsDB 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.