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Business, Economy

Borouge Q2 net profit $193m

The H1 revenue stood at $2.72 billion.

ADNOC Drilling H1 revenue $2.37bn

The company posted a net profit of $692m.

Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

Islamic Development Bank raises $1.6b from Sukuk issuance

By TRENDS Desk
October 8, 2022 3:23 pm
  • An IsDB official said proceeds were used to finance projects to recover from the COVID-19 pandemic, reduce poverty etc
  • The AAA-rated issuance was executed in line with the bank’s $4.1 billion financing plan for 2022

Jeddah, Saudi Arabia — Islamic Development Bank has collected US$1.6 billion from its first Sukuk issuance in April,  Dr. Zamir Iqbal, Vice President, Finance said on Friday.

The AAA-rated issuance was executed in line with the bank’s $4.1 billion financing plan for 2022, approved by the chairman.

In his statement to the Emirates News Agency (WAM), Dr. Iqbal said that the issuance generated considerable interest from investors seeking value and quality and was completed thanks to the bank’s solid financial and credit reputation.

He noted that the proceeds were used to finance projects to recover from the COVID-19 pandemic, reduce poverty, ensure food security, and generate green economic growth.

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