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IDB to boost sukuk programme by 50%

Saudi-based Islamic Development Bank (IDB) is planning to boost its sukuk programme by more than 50% by the end of this year, as demand for financing from member countries, including Turkey and Morocco, grows, Saudi Gazette has reported. IDB aims to raise its medium-term note programme to $10bn from $6.5bn, so that it is ready to tap the market at any time, said vice-president of finance at IDB, Abdul Aziz Al Hinai.