BAKU, Azerbaijan, Dec. 25
By Nargiz Sadikhova - Trend:
Three Sukuk issuances of the Islamic Development Bank (IsDB) made cross-listing at Astana International Exchange (AIX), Trend reports citing AIX.
The Shari’ah-compliant, fixed-income instruments were issued through IDB Trust Services Limited, its Special Purpose Vehicle (SPV) during the course of 2019-2020 under IsDB’s Medium-Term Note (MTN) program of $25 billion. The securities have previously been admitted to trading on Euronext Dublin, Nasdaq Dubai, and Bursa Malaysia (under the Exempt Regime).
The listed instruments comprise of three 5-year maturity tranches of EUR 1 billion (Green Sukuk), $1.5 billion (Sustainability Sukuk), and $2 billion (traditional Sukuk).
Dr. Kairat Kelimbetov, AIFC Governor (IsDB Governor for Kazakhstan), said the listing of three notable IsDB Sukuk on AIX is aimed at fostering impact investing practices, supporting COVID-19 relief initiatives, and achieving Sustainable Development Goals.
“We encourage the IsDB member countries to fully utilize the AIFC platform and look forward to seeing AIX amongst the top Sukuk listing venues,” he said.
AIX was formed in 2017 within the Astana International Financial Centre development framework. AIX shareholders are AIFC, Goldman Sachs, the Shanghai stock exchange, the Silk Road Fund, and NASDAQ, which also provides the AIX trading platform.
The exchange operates within a regulatory environment based on the principles of English common law, thus providing a reliable investment environment.
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