The Islamic Development Bank (IDB) listed a 1.25 billion US dollar Sukuk on Nasdaq Dubai, the region’s international financial exchange.
It is the seventh Sukuk listing on the exchange by the IDB, making it the largest Sukuk issuer on Nasdaq Dubai at 8.55 billion US dollars. Altogether Nasdaq Dubai has 56 Sukuk listings totalling USD 43.96 billion US dollars, making it the largest exchange in the world for Sukuk by value.
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.
Nasdaq Dubai is the international financial exchange serving the region between Western Europe and East Asia. It welcomes regional as well as global issuers that seek regional and international investment. The exchange currently lists shares, derivatives, Sukuk (Islamic bonds), conventional bonds and Real Estate Investment Trusts (REITS).
The majority shareholder of Nasdaq Dubai is Dubai Financial Market with a two-thirds stake. Borse Dubai owns one third of the shares. The regulator of Nasdaq Dubai is the Dubai Financial Services Authority (DFSA). Nasdaq Dubai is located in the Dubai International Financial Centre (DIFC).
Read the December 2016 issue of Business Review Middle East magazine