Nasdaq Dubai yesterday (December 4) welcomed the listing of a €1 billion ($1.1 billion) green sukuk by Islamic Development Bank (IsDB), the multilateral lender which finances development across its 57 member countries.
It is IsDB’s first green sukuk, issued under its sustainable finance framework. It is also the third sukuk listing this year on the region’s international exchange by IsDB, following two listings of $1.5 billion each in April and October.
The Islamic Development Bank has 11 sukuk currently listed on Nasdaq Dubai with a total value of $13.65 billion.
IsDB’s activities across its member countries include building partnerships between governments, the private sector and civil society; increasing skills and knowledge sharing besides focusing on science, technology and innovation-led solutions to development challenges; promoting global development that is underpinned by sharia-compliant sustainable financing structures; and fostering collaboration between its members nations to focus on the betterment of humanity.
The bank’s latest sukuk is the second to be listed in euros by the bank on Nasdaq Dubai, underlining the exchange’s role as a multi-currency listing hub.
Dubai is one of the largest centres globally for sukuk listings by value, currently totaling $65.4 billion.-TradeArabia News Service