The Islamic Development Bank (IDB) raised $1.75 billion through the issuance of benchmark Sukuk in capital markets. This issuance marks the first benchmark issuance in US dollars for the bank this year. The IDB has achieved significant milestones in 2024, including three successful benchmark transactions in Euro and US Dollar markets, surpassing a total of $50 billion in Sukuk issuances since 2003.
The IDB, with a credit rating of Aaa/AAA/AAA from Standard & Poor’s, Moody’s, and Fitch, priced the 5-year credit notes under a $25 billion Sukuk issuance program. The proceeds from this issuance will continue to support projects that promote social and economic growth in its 57 member countries and Islamic communities worldwide. These projects align with the bank’s three comprehensive goals under its restructured strategy: promoting economic recovery, addressing poverty and building resilience, and driving green economic growth.
