ALMATY, Kazakhstan, June 15, 2023 - The Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of the Islamic Development Bank (IsDB) Group, made its first foray into the Kazakhstani Tenge market this week, tapping a growing appetite for Emerging Market currency-linked Islamic bond (Sukuk). The ICD printed its first Sukuk denominated in Tenge, raising KZT 2 billion with an auction of a five-year amortized Sukuk. The sukuk is rated 'A+' by Fitch Ratings.
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