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.
27 Jan 2025
BBK offers customers with exclusive Tas’heel and Mazaya Finance to own their dream home
15 Jan 2025
BBK Signs Strategic Partnership with Bahrain Airport Company to Develop “Express Cargo Village”
08 Jan 2025
Bank of Bahrain and Kuwait and Global Payment Services Deliver the First Advanced Fraud Prevention Solution for Wallet Provisioning in the Kingdom of Bahrain
26 Dec 2024
BBK proudly supports “Celebrate Bahrain” as a gold sponsor in cooperation with BTEA
17 Nov 2024
BBK and Asia Jewellers announce exclusive offers to its customers at Jewellery Arabia 2024
12 Nov 2024
BBK partners with Durrat Al Bahrain to offer exclusive financing for Jawhart Al Marjan
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more