Malaysia Launches MYR 500 Million Sukuk Prihatin for COVID-19 Recovery Efforts; First Digital Sukuk

August 19, 2020

Malaysia's first ever digital Sukuk issuance, Sukuk Prihatin, was launched on the 18th of August 2020, as part of the Government of Malaysia’s National Economic Recovery Plan (Penjana). The Sukuk, which has a total target issuance of MYR 500 million with a two-year maturity period, is based on the principle of Tawarruq via the Commodity Murabahah arrangement, according to the Ministry of Finance.

The Sukuk Prihatin, which will be distributed from the 18th of August to the 17th of September, 2020 on a first-come first-served basis, has a yearly profit rate of 2% to be paid on a quarterly basis, tax exempted. The minimum subscription for this Sukuk is MYR 500, with no maximum limit.