Sukuk Worth USD 72.2 Million Issued Under Bank Islam Malaysia’s Sukuk Murabahah Programme

Bank Islam Malaysia (Bank Islam) issued MYR 300 million (USD 72.2 million) worth of Sukuk as the fourth tranche under its Sukuk Murabahah programme on the 12th of November 2021 with the aim of increasing the capital adequacy of the group.

Why it Matters?

A statement issued by Bank Islam said the MYR 300 million (USD 72.2 million) Sukuk with a 10-year tenure would mature on the 12th of November, 2031. Also mentioned was that the Sukuk would be categorised as Tier 2 regulatory capital of Bank Islam in accordance with Bank Negara Malaysia’s Capital Adequacy Framework for Islamic Banks (Capital Components) and hence would strengthen the capital adequacy of the bank in line with the requirements of Basel lll.

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