Manama, Bahrain, November 3, 2019: During the opening session of the 14th Annual Conference organized by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), the President of the Islamic Development Bank (IsDB) Group H.E. Dr. Bandar Hajjar stated that “Islamic finance institutions should consider the untapped potential of Islamic Fintech and its likely role of catalyst to overcome current standardization challenges.”
The Islamic Development Bank ("IsDB"), rated Aaa/AAA/AAA by Moody’s, S&P and Fitch (all stable outlook), has successfully priced US$1.5 billion, 5-year Trust Certificates (Sukuk) under its US$25 billion Trust Certificate Issuance Programme. The Sukuk was priced at par at 1.957%, to be payable on semi-annual basis, marking IsDB’s second public issuance in 2019.