More vertiports will be set up in strategic locations across Abu Dhabi, including major business hubs and tourism destinations
Dr Zamir Iqbal, vice-president of finance and chief financial officer of the Islamic Development Bank (IsDB), on Tuesday rang Nasdaq Dubai’s market-opening bell to celebrate the listing of a $1.7 billion sukuk on the region’s international financial exchange.
The listing strengthens the IsDB’s position as the largest supranational sukuk issuer on Nasdaq Dubai with a total value of $18.8 billion through 13 issuances listed on the exchange since 2016.
The bell-ringing ceremony was attended by Hamed Ali, CEO of Nasdaq Dubai and deputy CEO of the Dubai Financial Market (DFM), as well as other senior executives from both sides.
“We are pleased to see our relationship with Nasdaq Dubai growing stronger with this new listing of our landmark sukuk issuance, which reaffirms IsDB’s commitment to mobilise sustainable capital flows on the back of our top-tier AAA-rating and provide cost-effective financing for our Member Countries’ recovery from the pandemic,” Dr Iqbal said.
“We would like to thank Nasdaq Dubai for providing an international platform for our Islamic debt securities and our investors who continue to subscribe to our sukuk issuances and place their trust in IsDB’s mission of sustainable social and economic development,” he added.
CEO of Nasdaq Dubai, in turn, said: “We are committed to the continuous progression of Nasdaq Dubai’s regulations and services to support prominent issuers in implementing their financing and growth plans and linking them with regional and international investors who are seeking lucrative investments in this sector.”
This issuance is the second listing by the Islamic Development Bank on Nasdaq Dubai in 2021, as the bank listed its second sustainability sukuk issuance of $2.5 billion in April 2021, fortifying Dubai’s position as one of the largest sukuk listing venues globally, with a total value of $80.1 billion. It has also increased the total value of fixed income listings on the exchange to $108.8 billion.
The 5-year sukuk issuance of IsDB attracted more than $2.4 billion worth of orders. Proceeds of the sukuk will be utilised for the development mandate of the bank, which also includes its wide-ranging response to financing the recovery from the pandemic for its member countries.
— muzaffarrizvi@khaleejtimes.com
More vertiports will be set up in strategic locations across Abu Dhabi, including major business hubs and tourism destinations
Kerala will decide the fate of 194 candidates as polling on all 20 parliamentary constituencies will be held in the second phase
Pecker is a key witness in the case against the former US president, who is accused of falsifying business records to cover up hush-money payment
The oil and gas conglomerate and Fifa, the world governing body, sign major sponsorship agreement
Toomaj Salehi risks being hanged after the conviction on the Shariah charge of "corruption on Earth" by a Revolutionary Court
Aid groups warn any invasion would add to already-catastrophic conditions for Gaza's 2.4 million people
The American they will face Australia and Serbia on July 15 and July 17 as part of their preparation for the Paris Olympic Games
The leaders emphasise that the deal to release the hostages would bring an immediate and prolonged ceasefire in Gaza