27 Jun 2012
(MENAFN) Islamic Development Bank’s (IDB) issuance of USD800 million Trust Certificates has won AAA rating from Fitch Ratings, Reuters reported.
The Trust Certificates, which mature in June 26, 2017, were issued by IDB Trust Service, under its USD6.5 billion Trust Certificate Issuance Programme (TCIP).
Fitch said that the TCIP benefits from a guarantee provided by the IDB; thus its rating is in line with IDB’s Long-Term Issuer Default Rating (IDR) of ‘AAA’ with a Stable Outlook.
The trust certificates will take the form of Sukuk and will be used to finance planned growth in the IDB’s operations.
The IDB was established in 1975 in Jeddah with the aim of supporting economic development and social progress.
The multilateral organization provides project and trade finance as well as technical assistance to its member countries.
08 Apr 2026
BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
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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