Nasdaq Dubai has welcomed the listing of a 1.3 billion US dollar Sukuk by Islamic Development Bank (IDB), which is now the largest Sukuk issuer by value on the exchange at 11.8 billion US dollars in total.

It was the ninth Sukuk to be listed on Nasdaq Dubai since 2014 by the multilateral lender, which finances development across its 57 member countries.

The IDB’s activities include building partnerships between governments, the private sector and civil society; increasing skills and knowledge sharing; focusing on science, technology and innovation led solutions to development challenges; promoting global development that is underpinned by Sharia-compliant sustainable financing structures; and fostering collaboration between its members nations to focus on the betterment of humanity.

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.

IDB’s latest listing, which took place yesterday, underlines Dubai’s role as the largest centre globally for Sukuk listings by value, currently totaling 60.15 billion US dollars.