MBSB Bank to Raise USD 1.2 Billion Under its Sustainability Sukuk Wakalah Programme 

MBSB Bank Berhad (MBSB) is set to raise MYR 5 billion (USD 1.2 Billion) through trust certificates under its sustainability Sukuk Wakalah programme after signing an agreement with Maybank Investment Bank Berhad on the 22nd of February 2022 to establish the Sukuk.

Why it Matters?

The issuance is billed as the first sustainability Sukuk raised by an Islamic bank and is expected to provide investors with diversification while providing MBSM with access to investors with inclinations for environment, social and governance (ESG) mandates. According to MBSB's Acting Chief Executive Officer, Datuk Nor Azam Bin M. Taib, proceeds raised would be utilised for partially or wholly financing or refinancing future and existing eligible Shariah-compliant financings i...