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FINANCIAL NEWS
IDB to issue $1b in Islamic bonds
24 Aug 2010
(MENAFN) The Vice President of the Islamic Development Bank said that the Saudi Arabia-based multilateral lender plans to sell $1 billion of Islamic bonds to fund development projects in its member countries, AP reported.
The five-, seven- and 10-year sukuk, part of the IDB�s $3.5 billion Medium-Term Note program, will be issued in the fourth quarter and listed in London and Kuala Lumpur, the VP told reporters in the Malaysian capital after registering a separate ringgit issuance on the local exchange.
Khazanah Nasional Bhd., Malaysia�s state investment agency, sold $1.1 billion of five- and 10-year Islamic notes on Aug. 11, and the nation�s biggest mortgage company Cagamas Bhd. sold $318 million on Aug. 19.
The IDB, which has 56 member countries including Egypt, Saudi Arabia and Turkey, is financing up to $8 billion of projects in 2010, said the official.
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24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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