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AIX welcomes IsDB Sukuk listing to expand the range of Islamic instruments

25/12/2020

Astana International Exchange (“AIX”, “Exchange”) is pleased to announce the cross-listing of three Sukuk issuances of the Islamic Development Bank (IsDB). 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 US$ 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), US$ 1.5 billion (Sustainability Sukuk) and US$ 2 billion (traditional Sukuk).

Dr. Kairat Kelimbetov, AIFC Governor (IsDB Governor for Kazakhstan), stated:   

“We are delighted to welcome the listing of three notable IsDB Sukuk on AIX aimed at fostering impact investing practices, supporting COVID-19 relief initiatives and achieving Sustainable Development Goals. We encourage the IsDB member countries to fully utilise the AIFC platform and look forward to seeing AIX amongst the top Sukuk listing venues.”

Dr. Bandar M. H. Hajjar, President of the IsDB, said:

“As a market leader in Islamic finance, IsDB is pleased to support the AIFC through the listing of IsDB Sukuk on the AIX. This marks the further strengthening of the relationship between IsDB and the AIFC and we believe it will open new windows of opportunities for investors, whom we welcome to explore Sukuk and its potential to contribute to a green and sustainable recovery from the COVID-19 pandemic.”

Tim Bennett, CEO of AIX, noted:   

“Listing of new Sukuk issued by the supranational financial institution adds further momentum to the growth of AIX as a key venue for listing of Shari’ah-compliant products. We welcome the listing of Shari’ah-compliant instruments of the Islamic Development Bank Listing to AIX.”

Reference information:

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. The mission of AIX is to develop an active capital market in Kazakhstan and the region by providing clear and favorable conditions for attracting financing to private and public businesses. AIX develops special segments for mining companies as well as infrastructure projects under the Belt and Road initiative. More details: www.aix.kz

AIFC. Astana International Financial Center (AIFC) was established on the initiative of Nursultan Nazarbayev, the First President of the Republic of Kazakhstan. The constitutional law establishing AIFC was signed on December 7, 2015. The aim of AIFC is to form a leading center of international financial services. The objectives of AIFC are to assist in attracting investments into the country’s economy, create an attractive environment for investment in financial services, develop the securities market of the Republic of Kazakhstan and ensure its integration with international capital markets. More details: www.aifc.kz

IsDB. The Islamic Development Bank is a AAA-rated supranational and multilateral development financial institution with 57 Member Countries and a mandate of delivering social and economic development with a focus on sustainability in its Member countries and Muslim communities worldwide. Its overarching pillars of activity include building partnerships and promoting global development, fostering collaboration, enhancing global value chains and leveraging on science, technology and innovation. More details: www.isdb.org