IDB to launch Dh37 billion sukuk on Nasdaq Dubai

The Islamic Development Bank (IDB) has announced that it intends to list Dh37 billion sukuk programme on Nasdaq Dubai. The move represents a momentous addition to the constant successes of ‘Dubai the Capital of Islamic Economy’ initiative. Dr Ahmad Mohamed Ali Al Madani, president of the IDB, said that Dubai’s exchange and regulatory architecture together with its commitment to providing Islamic finance solutions of high quality make it a natural home for IDB's securities. It is noteworthy that Dubai capital markets have successfully attracted sukuk issues of Dh46 billion since the launch of ‘Dubai, the global sukuk centre’, and this number is expected to reach Dh60 billion by year end.