Jeddah-based Islamic Development Bank will raise $1.5 billion from a five-year sukuk issue that it will price later, a document from arrangers showed.
The deal will carry pricing of 50 basis points over midswaps, according to the
Saudi Arabia-based Islamic Development Bank has approved $593 million in funding for development projects in Kazakhstan, Gabon, Benin and Turkey, the bank said in a statement on Tuesday.
It also agreed to provide a grant to study
Islamic Development Bank (IDB) has increased the ceiling of its Islamic bonds (sukuk) programme to $25 billion from $10 billion, as it aims to expand its financing across member countries, said the Jeddah-based lender.
The Islamic Development Bank (IDB) is in discussions with Chinese officials to study the use of Islamic financing in the planned Asian Infrastructure Investment Bank (AIIB), the head of the Jeddah-based multilateral lender told Reuters.
The Islamic Corporation for the Development of the Private Sector (ICD), an arm of the Jeddah-based Islamic Development Bank, said it would lead manage a 300 billion CFA franc ($480 million) Islamic bond programme for Ivory Coast.
The private sector arm of the Jeddah-based Islamic Development Bank (IDB) plans to tap Islamic capital markets to raise as much as $1.2 billion in long-term funds during its current financial year, its chief executive said.
Oman will receive a grant of $176 million for its economic and social development for the Islamic Development Bank (IDB), a multilateral development financing institution, a report said.
IDB has allocated $987 million to back econ
A new infrastructure fund from the Islamic Development Bank aims to help Gulf-based companies expand in Asia and Africa, developing stronger economic ties among these regions.
Jeddah-based IDB is keen to grow trade among its 56 me
The Jeddah-based Islamic Development Bank aims to issue its first short-term sukuk this year, and is studying how it might start to guarantee Islamic bond issuance by member countries, said a senior executive.
A lack of short-term
Morocco has won backing from the Saudi-based Islamic Development Bank for its first sukuk as the North African country looks to attract Middle Eastern investors.
"The Islamic Development Bank has proposed us to buy our sukuk