Malaysia’s BIMB Issues MYR 400 Million Sukuk Murabaha

Bank Islam Malaysia (BIMB) has issued MYR 400 million worth Subordinated Sukuk Murabaha as the second tranche of its MYR 10 billion Sukuk Program.

According to IslamicMarkets Sukuk Monitor, the Sukuk carries a coupon rate of 3.75% and is expected to mature in March 2030.

The Sukuk carries an “A1/stable” rating by RAM Ratings Services and the proceeds from the issuance are expected to be utilized to enhance BIMB’s Islamic banking activities, working capital requirements and for other corporate purposes and/or, if required, to redeem any outstanding Sukuk Murabaha issued under the Sukuk Murabaha Programme.

This Sukuk is expected t...