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DUBAI / WAM
Nasdaq Dubai on Sunday welcomed the listing of a $1.5 billion sukuk by Islamic Development Bank (IDB). The listing underlines Dubai’s role as the largest centre globally for sukuk listings by nominal value currently totalling $60.89 billion.
IDB now has 10 sukuk listed on the Middle East’s international financial exchange with a total value of $12.54 billion. The multilateral lender, which finances development across its
57 member countries, first listed a sukuk on Nasdaq Dubai in 2014.
IDB’s activities include building partnerships between governments, the private sector and civil society; increasing skills and knowledge sharing; focussing on science, technology and innovation led solutions to development challenges; among others.