Islamic Development Bank announces final issuances

RIYADH: The Islamic Development Bank of Saudi Arabia has announced the price of its second and final issuances as part of its plan to mobilise financial resources.

The Saudi Press Agency (SPA) reported the final price of issuance instruments by the bank was SR6.3 billion ($1.7 billion), due to five years of annual returns by 1.435 per cent, as a part of the bank medium-term instruments programme of SR93.7 billion ($25 billion).

The Islamic Development Bank president Muhammed Sulaiman Al-Jassar said that he wanted to “thank investors” for trusting the institution during the recovery from the pandemic.