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Islamic Finance Briefing - Categorized | Bonds (Sukuk), Emerging Trends more

IDB to increase fundraising under MTN Program

Posted on 05 October 2009

From Arabnews.com: Following the successful launch of its recent $850 million 5-year international sukuk, the Jeddah-based Islamic Development Bank (IDB), the multilateral development bank (MDB) of the 57 Muslim countries, is set to increase its fundraising and resource mobilization under its MTN (medium-term note) Program from $1.5 billion to $5 billion.

Another initiative that is under serious consideration by the MDB, according to Mohammed Tariq, head of treasury at the IDB, “is to help the non-institutional investors to participate in IDB’s international offering of its tradable sukuk………………Full Article: Source

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