Nasdaq Dubai welcomed the listing of a US$2 billion Sukuk by the Islamic Development Bank, IsDB, a multilateral lender which finances development across its 57 member countries.

The five-year Sukuk is the largest by value to be listed on the exchange by IsDB, Nasdaq Dubai said in a press statement today. The bank said it was priced at a profit rate of 1.809 percent payable on semi-annual basis. The Sukuk makes IsDB the leading Sukuk issuer by total value on Nasdaq Dubai at $15.64 billion.

The first of IsDB’s 12 current Sukuk listings on the exchange was a $1 billion instrument that listed in 2015. The other IsDB listings are three Sukuk of $1.5 billion each, a $1.3 billion Sukuk, four Sukuk of $1.25 billion each, a EUR650 million Sukuk and a EUR1.1 billion Sukuk.

Dubai is one of the largest centres globally for Sukuk listings by value at $68.355 billion.