MUFG Bank (Malaysia) Issues MYR 250 Million Sukuk; Third Tranche Under Multi-Currency Sukuk Wakalah Programme

Japan-based Mitsubishi UFJ Financial Group banking subsidiary, MUFG Bank (Malaysia) (MUFG or the Bank), has announced the successful offering of MYR 250 million Sukuk on the 26th of March 2021, which is the third tranche offered as part of its ten-year USD 500 million multi-currency Sukuk Programme under the Shariah principle of Wakalah Bi Al-Istithmar (rated AAA(bg)/Stable by RAM Rating Services).

Why it Matters?

The two-year issuance marks the first MYR-denominated Sukuk for a Japanese bank issued out of Malaysia, and complements MUFG’s efforts at diversifying funding with its Sukuk Wakalah Programme, which debuted in 2014 with JPY- and USD-denominated tranches issued. The third tranche is timely given MUFG’s growing presence in the Mal...