Nasdaq Dubai rolled out the red (or shall we say, green?) carpet for the listing of the latest Sustainability Sukuk (aka Islamic bond) by the Islamic Development Bank — valued at $2.5b. This is the IsDB’s second “eco-friendly” Sukuk issuance under its Sustainable Finance Framework.
The five-year US dollar Trust Certificates were priced at face value, and the profits will be used to fund projects that are eligible under the bank’s sustainability framework — we’re talking renewable energy, affordable housing, sustainable water, and wastewater management. Yay for big lenders caring about the future of our planet!