As the $3.5 billion Islamic Trust Certificates Program of the Islamic Development Bank (IDB) nears completion, the multilateral development bank (MDB) of the Muslim world, is faced with the dilemma of introducing a new program or increasing the ceiling of the existing one or deciding on other ways to raise funds for its future resource mobilization purposes.
The IDB has thus far issued a $400 million debut sukuk; followed by a $500 million sukuk and an $850 million sukuk in 2009; an $500 million sukuk in 2010 and the recent $750 million in May 2011, thus bringing the total volume of IDB sukuk offerings to date to $3 billion — the largest volume of sukuk issuances by any supranational……………………………………….Full Article: Source