IslamicFinance.de

The Islamic Development Bank (IDB) plans to issue a benchmark-sized Islamic bond in around May next year, the bank’s President Ahmad Mohamed Ali said. In February, AAA-rated IDB already priced a $1.5 billion, five-year sukuk. The new issue will reportedly be close to this year’s issue. Besides, IDB is considering whether to guarantee Tunisia’s proposed 700 million dinar ($431.79 million) debut sukuk. The Tunisian issue is aimed at helping the North African economy recover after being hit by the 2011 uprising. Moreover, IDB’s insurance arm, the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), is also debating whether to extend a sukuk insurance product to boost the credit rating of Tunisia’s sukuk.