Islamic Development Bank considering sukuk programme in Dubai
The Islamic Development Bank (IDB) is considering setting up an Islamic bond issuance programme in Dubai. It would be the IDB's first sukuk programme in a Middle Eastern country. While discussions are at an early stage, the IDB has seen growing demand for its sukuk and already plans to expand its main London-listed programme to $10 billion from the current $6.5 billion.The IDB sukuk could offer a much-needed boost to trading volumes and encourage issuers from outside the emirate to choose Dubai as their listing venue. Support for sukuk issuance is part of a broad cooperation agreement signed in July between the IDB and the government of Dubai.
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