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Nasdaq Dubai has welcomed the listing of a US$1.25 billion Sukuk issued by the Islamic Development Bank, IDB.
The listing brings the number of Sukuk listings by the IDB on the exchange to eight with a total value of $10.25 billion, making it one of the largest Sukuk issuers on Nasdaq Dubai. Based in Saudi Arabia, the IDB has 57 member countries and its activities are designed to foster their economic development and social progress.
Nasdaq Dubai provides the IDB and its other regional and international issuers with close links to investors around the world as well as a first class listing infrastructure.
IDB’s latest listing underlines Dubai’s stature as a leading global centre for Sukuk activity, with Sukuk listings in the Emirate currently totaling $52.465 billion.
The Islamic Corporation for the Development of the Private Sector (ICD, Aa3 stable) benefits from a robust capital position and strong liquidity, although its weak asset quality remains a challenge,
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