Nasdaq Dubai Welcomes ICD’s USD 600 Million Sukuk Listing

Nasdaq Dubai has recently listed a USD 600 million Sukuk issued by the Islamic Corporation for the Development of the Private Sector (ICD), which is the private sector arm of the Islamic Development Bank (IsDB).

According to local media reports, the capital raised from the five-year Sukuk will be used for development activities in IsDB’s 55-member countries, including entrepreneurship, export potential, creating competition, employment opportunities as well as developing Islamic financing activities in the debt and equity capital markets.

The Sukuk was issued at 140 basis points over mid-swaps rate and received strong investor interest from a variety of constituencies from Eu...