International Finance Corporation (IFC) listed Monday $100 million sharia-compliant bonds, or sukuk on Nasdaq Dubai, bringing the total nominal value of listed sukuk in the emirate to $36.8 billion, according to a statement by the World Bank’s
IFC.
“This issuance will help meet the funding needs of our private-sector clients in the Middle East and globally,” Bahar Al-Sharif, IFC deputy treasurer, said in a statement. “IFC is also keen to offer international and regional investors high-quality alternatives in Islamic financial markets.”
The sukuk is the second to be listed by IFC on Nasdaq Dubai, after a $100 million sukuk listed in 2009 matured just last year.
As much as $12.75 billion sukuk have been listed on Nasdaq Dubai this year, or one- third of the total listed sukuk, reflecting the city’s ambition to become a global hub for sharia-compliant finance.
“We are committed to providing all our issuers with a well-regulated listing environment that provides confidence to investors,” said Abdul Wahed Al Fahim, chairman of Nasdaq Dubai.
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