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Dubai / WAM
Nasdaq Dubai welcomed the listing of a $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 press statement on Sunday. 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 Islamic Development Bank’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 EUR650 million sukuk and a EUR1.1 billion Sukuk.
Dubai is one of the largest centres globally for Sukuk listings by value at $68.355 billion.