At least 937 students from China have benefited from the scholarships provided by the Islamic Development Bank (IsDB) through the Community Outreach programme of the bank. IsDB has also approved 27 community development projects at the cost of US $11.8 million through the Special Assistance Programme in education, vocational training, and heath sector in various provinces such as Beijing, Ningxia, Yuan, Tianjin, Hubei and others.
The Board of Executive Directors (BED) of Islamic Development Bank (IsDB) has approved several projects worth US $325 million for Burkina Faso, Kazakhstan, and Mozambique. The approvals also include a Technical Assistance Loan to Suriname and a Waqf (endowment) project through the Islamic Solidarity Fund for Development (ISFD) to Benin Republic.
The Islamic Development Bank (IsDB)’s “AAA” credit rating was affirmed with a “Stable Outlook” by Fitch Ratings on May 28, 2019. The trust certificates issued by IsDB Trust Services Ltd. have also been affirmed at ‘AAA’.
The Islamic Summit Conference commended, during its 14th ordinary session in Makkah, the important role of the Islamic Development Bank (IsDB) Group in promoting comprehensive development in OIC Member States, strengthening their cooperation, enhancing Islamic finance, developing infrastructure and promoting the private sector. The Conference called upon Member States to significantly increase the IsDB’s capital to enable it to meet the increasing needs of its Member States.
The Islamic Development Bank Group (IsDB) has organized today a workshop on the Arab-Africa Trade Bridges (AATB) Program, through the International Islamic Trade Finance Corporation (ITFC), under the patronage of HE Dr. Bandar Hajjar, President of IsDB Group.
H.E. Dr Bandar M. H. Hajjar, the President of the Islamic Development Bank (IsDB), and Elhadj As Sy, the Secretary General of the International Federation of Red Cross and Red Crescent Societies (IFRC), agreed on plans to create of a multi-million dollar fund to combat cholera and other diarrheal diseases in OIC countries.
The Islamic Development Bank ("IsDB"), rated Aaa/AAA/AAA by Moody’s, S&P and Fitch (all stable outlook), has successfully priced a 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 2.843%, to be payable on semi-annual basis, marking IsDB’s first public issuance in 2019.
