Islamic Development Bank lists $1.6bn sukuk on Nasdaq Dubai

Islamic Development Bank (IsDB) listed a $1.6bn sukuk on Nasdaq Dubai.

The bank priced the 5-year trust certificates at par with a profit rate of 3.213 per cent, payable on a semi-annual basis. The proceeds of the issuance will be used to finance projects under the development mandate of the bank, official news agency WAM reported.

The latest issuance from IsDB strengthens its position as the largest supranational institution issuing sukuk on Nasdaq Dubai with a total value of $18.04bn currently listed through 13 issuances.

.@NasdaqDubai welcomes listing of US$ 1.6 billion Sukuk by the Islamic Development Bank, which strengthens its position as the largest supranational institution issuing Sukuk on Nasdaq #Dubai with a total value of US$ 18.04 billion currently listed through 13 issuances. pic.twitter.com/G98FSWMFWw

— Dubai Media Office (@DXBMediaOffice) April 29, 2022

The new listing also brings the total value of Sukuk listed in Dubai to $77.5bn.

In October of last year, the lender had listed a $1.7bn sukuk on Nasdaq Dubai.

Read: Saudi’s Islamic Development Bank lists $1.7bn sukuk on Nasdaq Dubai

Prior to that, it had listed a $2.5bn sustainability sukuk on Nasdaq Dubai

Read: Saudi’s Islamic Development Bank lists $2.5bn sustainability sukuk on Nasdaq Dubai