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Islamic Finance Briefing - Categorized | Bonds (Sukuk), Finance, Property, Projects, Infrastructure more

IDB’s finance for its project’s growth

Posted on 26 August 2010

From Ffog.net: The Islamic Development Bank, a Saudi Arabia-based multilateral lender bank, which has 56 member countries including Egypt, Saudi Arabia and Turkey, is financing up to $8 billion of projects in 2010, said Vice President Al Hinai.
The proceeds from the sukuk will be used to mostly finance infrastructure development of $3 billion to $3.5 billion, projects that “are highly needed for the growth of our member countries,” he said. The sukuk are rated AAA by Standard & Poor’s, according to a statement issued by the bank today. Of course that is a very good thing to hear about them……………………………………….Full Article: Source

 
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