Malaysia to Issue MYR 500 Million Sukuk as Part of the Short-term Economic Recovery Plan

On the 5th of June 2020, Malaysia’s Prime Minister, Tan Sri Muhyiddin Yassin, announced the up-coming issuance of MYR 500 million Sukuk Prihatin set for the third quarter of 2020 (Q3 2020). Themed ‘from the people to the people’, the Sukuk issuance aims to support the Government of Malaysia’s post COVID-19 recovery efforts.

According to the Prime Minister, the Sukuk’s proceeds will go towards specific development programmes including the broadband connectivity of schools particularly in rural areas, funding micro enterprises focused on the involvement of female entrepreneurs, as well as research grants for infectious diseases.

The Sukuk forms a part of the...