Baku, Fineko/abc.az. The Islamic Development Bank announced that Standard & Poor’s, Fitch Ratings and Moody’s have all reaffirmed recently their highest issuer rating “AAA” to the IDB’s enlarged US$6.5 billion Trust Certificate Issuance “Sukuk” Program and the $800 million issuance in June 2012.

IDB President Ahmed Mohamed Ali emphasized in this connection that the Bank is continuously expanding the extent of its interventions in member countries with total funding exceeding $8.3 billion; and its overall financing is expected to increase given the huge demand especially from the MENA countries (Middle East and North Africa).

“IDB is always looking at new ways of resource mobilization and plans to issue regular annual sukuk tranches ranging from $500 million to $1.5 billion under its Medium Term Note program. This is to leverage the Bank’s ‘AAA’ rating to mobilize funds on reasonable terms from the market for the benefit of our member countries,” he added.

25.06.2012 09:23