Home GCC UAE Saudi’s Islamic Development Bank lists $2.5bn sustainability sukuk on Nasdaq Dubai The total value of the bank’s sukuk listed on Nasdaq Dubai stands at $17.14bn by Gulf Business April 6, 2021 Saudi Arabia’s Islamic Development Bank (IsDB) has listed a $2.5bn sustainability sukuk on Nasdaq Dubai. It is the second AAA-rated sukuk issuance under the Sustainable Finance Framework of IsDB and is the bank’s biggest US dollar public issuance to date. The 5-year $2.5 billion Trust Certificates were priced at par with a profit rate of 1.262 percent, payable on a semi-annual basis. The first of IsDB’s current Sukuk listings on Nasdaq Dubai was a $1 billion instrument that listed in 2015. With this latest addition, the total value of IsDB sukuk listed on Nasdaq Dubai stands at $17.14bn through 12 tranches. This includes IsDB listing a $1.5bn sustainability sukuk on Nasdaq Dubai last year, the proceeds of which were used support Covid-19 relief initiatives including funding medical, social and business projects among the bank’s 57 member countries. Read: Saudi’s Islamic Development Bank lists $1.5bn sustainability sukuk on Nasdaq Dubai Proceeds of the latest sukuk will be allocated to finance and refinance green and social development projects that are eligible under IsDB Sustainable Finance Framework. The bank finances development across its 57 member countries. IsDB’s activities across its member countries include building partnerships between governments, the private sector and civil society; increasing skills and knowledge sharing; focusing on innovation led solutions to development challenges and promoting global development underpinned by Sharia-compliant sustainable financing structures, said a statement posted by Nasdaq Dubai. Read: Private sector arm of Islamic Development Bank, ICD, lists $600m sukuk on Nasdaq Dubai Tags Economy finance Islamic Development Bank Nasdaq Dubai Saudi Arabia sustainability sukuk UAE 0 Comments You might also like Flying Taxis: How Archer aims to revolutionise travel in the UAE Saudi Arabia’s Mawani signs four contracts worth SAR1bn UAE to announce petrol, diesel prices for January; will rates drop in 2024? How REITs are unlocking the potential of UAE real estate