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Islamic Development Bank plans up to $1 bln sukuk
May 9, 2012 / 9:36 AM / in 6 years

Islamic Development Bank plans up to $1 bln sukuk

RIYADH, May 9 (Reuters) - The Islamic Development Bank plans to raise up to $1 billion by issuing a sukuk, a spokesman for the bank told Reuters on Wednesday.

Asked about media reports quoting IDB president Ahmad Mohamed Ali as saying the Jeddah-based multinational lender plans to raise between $500 million and $1 billion through a sukuk, the spokesman said: “That’s true.”

A senior official at the IDB’s treasury department was not immediately available to provide details. (Reporting by Marwa Rashad; Editing by Andrew Torchia)

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