The U.K. has chosen HSBC Holdings Plc to arrange and advise on its debut Islamic bond planned for as early as this year in an effort to become the first non- Muslim nation to sell the debt, a Treasury official said.
The Islamic Development Bank disbursed 18 billion CFA francs ($37 million) to Mali for water supplies in the capital, Bamako, and a feasibility study for a road, L’Essor reported, without saying where it got the information.
The Saudi Arabian-based Islamic Development Bank plans to start a $500 million fund to provide financing for developers of affordable houses in Muslim countries, an executive at the bank said in an interview.
The Bill & Melinda Gates Foundation signed an agreement with the Islamic Development Bank for a program to fight contagious diseases and provide food security in several countries, the Saudi Press Agency reported.
The board of the Islamic Development Bank , a Saudi Arabia-based multilateral lender, approved earmarking $4.1 billion for expected operations in fiscal 2011, the Saudi Press Agency reported, citing the bank.