SME Bank's First Sustainability Sukuk Wakalah Oversubscribed by 3.56 Times

With a target issuance of MYR 500 million, Small Medium Enterprise Development Bank Malaysia (SME Bank)’s maiden sustainability Sukuk Wakalah, was oversubscribed by 3.56 times (bid-to-cover) under its book building exercise, recording a final order of MYR 1.78 billion. The Sukuk Wakalah programme is made up of an Islamic medium term notes programme valued at up to MYR 3 billion; this includes the sustainability Sukuk and Islamic commercial papers programme of up to MYR 1 billion.

Why it Matters?

Aria Putera Ismail, Group President and Chief Executive Officer of SME Bank, stated that with the issuance of the sustainability Sukuk, SME Bank would now be in a position to provide more innovative financing solutions for small and medium-sized companies...