The Islamic Development Bank has listed an Islamic bond worth $1.25 billion on the Nasdaq Dubai exchange.
On the exchange, the bank is the largest issuer of Islamic bonds, known as sukuk, with $8.55 billion issued to date.
“Altogether Nasdaq Dubai has 56 sukuk listings totalling $44 billion, making it the largest exchange in the world for sukuk by value,” says Nasdaq Dubai in a statement.
The Islamic Development Bank is based in Saudi Arabia and active in 57 member countries, where it works to fund economic development.
Islamic institutions are among the largest issuers of sukuk. Earlier this year, Sharjah Islamic Bank and Emirates Islamic issued a combined $750 million of sukuk on Nasdaq Dubai.
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