World Bank’s IFC lists $100 mln sukuk on Nasdaq Dubai

International Finance Corporation (IFC) listed Monday $100 million sharia-compliant bonds, or sukuk on Nasdaq Dubai, bringing the total nominal value of listed sukuk in the emirate to $36.8 billion, according to a statement by the World Bank’s

IFC.

“This issuance will help meet the funding needs of our private-sector clients in the Middle East and globally,” Bahar Al-Sharif, IFC deputy treasurer, said in a statement. “IFC is also keen to offer international and regional investors high-quality alternatives in Islamic financial markets.”

The sukuk is the second to be listed by IFC on Nasdaq Dubai, after a $100 million sukuk listed in 2009 matured just last year.

As much as $12.75 billion sukuk have been listed on Nasdaq Dubai this year, or one- third of the total listed sukuk, reflecting the city’s ambition to become a global hub for sharia-compliant finance.

“We are committed to providing all our issuers with a well-regulated listing environment that provides confidence to investors,” said Abdul Wahed Al Fahim, chairman of Nasdaq Dubai.