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Thursday, 28 February 2019

Islamic Development Bank to raise 2 billion dollars in sukuks in 2019



28 February 2019 (Reuters)

RABAT, Feb 28 (Reuters) - The Islamic Development Bank (IsDB) will raise around 2 billion dollars through multiple sukuk issuances this year, President Bandar Hajjar said on Thursday.

The bank, which operates in 57 countries, sold over 600 million euros in its first euro-dominated bond last year, Hajjar told Reuters on the sidelines of a conference in Rabat.

"This is a breakthrough in our sukuk plan," he said.

The bank continues to promote Islamic finance and is currently in talks with Russia's central bank to prepare the regulatory framework for the launch of commercial Islamic banks, Hajjar said, without elaborating.

(Reporting by Ahmed Eljechtimi; editing by Jason Neely)

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