Business | Banking
Islamic Development Bank seeks sukuk issue
The Islamic Development Bank, reported to be readying two new sukuk issues, said on Friday it was studying the best type of Islamic bond suitable for current market conditions.
- Agencies
- Published: 23:20 November 7, 2008
Dubai: The Islamic Development Bank, reported to be readying two new sukuk issues, said on Friday it was studying the best type of Islamic bond suitable for current market conditions.
"It is very important we select the right type," Ahmad Mohammad Ali, the bank's president said on the sidelines of the World Economic Forum meeting in Dubai. "In terms of the economy, all of us are affected," he said.
The Saudi-based bank, set up to foster development among its 56 Muslim member states, financed projects worth Dh17.62 billion ($4.8 billion) in fiscal 2006-07.
Share this article
Popular in Business
-
Budget travel
Airlines in the region
Take a pictorial look at some of the budget airlines in GCC
Business Editor's choice
-
It costs a million to raise a child
Generation Z doesn't leave home at 18, but stay with the parents until mid-20s
-
Investing in funds doesn't come cheap
Many people are unaware of the effect of different expenses on their returns
-
Firm turns televised events into marketing dream
Drops anchor in Dubai to sell world's richest yachting races
