LONDON / Reuters The Islamic Development Bank (IDB), the largest development organisa-tion in the Muslim world, will launch a $2.5 billion benchmark-sized sukuk, its largest since inception, “soon”, its president Bandar Hajjar said on Monday. Speaking at a sukuk conference at the London Stock Exchange Hajjar said the sukuk would support spending on infrastructure, education and health. The IDB is …

Bloomberg Barclays Plc’s attempts to scale up its cash management business in India via a tie-up with the country’s post office are starting to bear fruit, according to the UK bank’s local corporate banking head. The deal with the 164-year-old mail service, first agreed in 2015, allows Barclays to offer its cash management services via some 8,000 postal branches spread …

Bloomberg Nigeria’s long-awaited interest rate-cutting cycle risks being short-lived, if it starts at all. Governor Godwin Emefiele said last month the Central Bank of Nigeria may reduce its benchmark from a record-high 14 percent before July if inflation drops closer to single digits. But with fuel costs surging and government spending swelling before next year’s election, he may struggle to …