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DUBAI / WAM
The Islamic Development Bank (IDB) listed a $1.25 billion Sukuk on Thursday on Nasdaq Dubai, the region’s international financial exchange. It is the seventh Sukuk listing on the exchange by the IDB, making it the largest Sukuk issuer on Nasdaq Dubai at 8.55 billion US dollars. Altogether, Nasdaq Dubai has 56 Sukuk listings totalling US$43.96 billion, making it the largest exchange in the world for Sukuk by value. Based in Saudi Arabia, the IDB has 57 member countries and its activities are designed to foster their economic development and social progress.