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Article: IFC lists $100m sukuk on DIFC.
- Article from:
- TradeArabia (Manama, Bahrain)
- Article date:
- November 8, 2009
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Byline: Dubai
The International Finance Corporation, an affiliate of the World Bank, has announced the listing of its dollar-denominated $100 million issue on Nasdaq-Dubai, the DIFC's international exchange.
The IFC Hilal Sukuk, which has been given a AAA rating with a five-year maturity, has set a milestone for Islamic Finance and for financial markets in the GCC, said a DIFC statement.
It is the first time that a non-Islamic financial institution has issued a Sharia compliant security for term funding. By issuing a Sukuk, the IFC and the World Bank have recognised Shari'a compliant finance and securities as bona fide, valid, and acceptable ...