Bank Simpanan Nasional’s Proposed Sukuk Wakalah Programme (2021/-) Assigned AAA/Stable Rating by RAM

Bank Simpanan Nasional (BSN)’s proposed MYR 3.5 billion Islamic Medium-Term Notes Sukuk Wakalah Programme (2021/-) has been assigned an AAA/Stable rating by RAM Ratings (RAM).

Rating Rationale

As per Section 20 of the Bank Simpanan Nasional Act 1974, all deposits with BSN are guaranteed by the Government of Malaysia. These ratings are driven by the high likelihood of support from the Government, given BSN’s important public policy role and strong linkage to the Government.

Details

BSN’s mandate is to improve the economic welfare of Malaysians by promoting savings. Serving in the capacity of a vehicle used to roll out various government initiatives, BSN acts as a channel of distribution of cash...