Kazakhstan’s AIX Announces Cross-Listing of Three Sukuk Issuances of the Islamic Development Bank

Kazakhstan’s Astana International Exchange (AIX) has announced the cross-listing of three Sukuk issuances of the Islamic Development Bank (IsDB), according to an official IsDB statement issued on the 26th of December 2020.

The Shariah-compliant fixed-income instruments were issued through IsDB’s special purpose vehicle IDB Trust Services Limited during 2019-2020 under IsDB’s USD 25 billion Medium-Term Note programme. The listed instruments comprise of three tranches of EUR 1 billion (Green Sukuk) at a coupon rate of 0.037%, USD 1.5 billion (Sustainability Sukuk) at a coupon rate of 0.908%, and USD 2 billion (traditional Sukuk) at a coupon rate of 1.809%, with five-year maturities, according to IslamicMarkets Sukuk Monitor. The securities have previously been...