Malaysia’s RHB Islamic Bank Issues MYR 250 Million Subordinated Sukuk Murabahah

Malaysia-based RHB Islamic Bank, RHB Bank Berhad’s wholly-owned subsidiary, announced the issuance of Subordinated Sukuk Murabahah of MYR 250 million (USD 58 million) in nominal value, as part of its MYR 5 billion (USD 1.2 billion) Subordinated Sukuk Murabahah Programme, in a filing with Bursa Malaysia on the 21st of April 2022.

Why it Matters?

The Sukuk will have a 10-years term and are non-redeemable for five years. It will also have a fixed profit rate of 4.06% per annum, paid every six months throughout the entire tenure. The proceeds from the Sukuk will be used for Shariah-compliant working capital and general banking operations at RHB Islamic Bank.

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