March 5, 2018 / 2:38 PM / 3 months ago

Islamic Development Bank aims to sell $1 bln green sukuk in 2018

LONDON, March 5 (Reuters) - The Islamic Development Bank (IDB), the largest development organisation in the Muslim world, is aiming to issue a benchmark-sized green sukuk this year to finance renewable energy projects, the bank’s vice president said on Monday.

“Our objective would be to get a benchmark, so a billion U.S. dollars, but the projects may not be that size ... we may just do a smaller one,” Zamir Iqbal, vice president finance and chief financial officer of the IDB, told Reuters on the sidelines of a conference at the London Stock Exchange.

“I hope it will be this year,” he said, adding the bank was looking at renewable energy projects in Morocco and Turkey. (Reporting by Karin Strohecker)

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