BIMB issues second tranche sukuk worth RM400m

1 min


49
9 shares, 49 points

BIMB issues second tranche sukuk worth RM400m

PETALING JAYA: BIMB Holdings Bhd’s wholly owned subsidiary, Bank Islam Malaysia Bhd has issued the second tranche of subordinated sukuk Murabahah amounting to RM400 million, as part of its RM10 billion sukuk programme.

According to the group’s filing with Bursa Malaysia, the sukuk has a tenure of 10 years with a non-callable period for the first five years. The maturity date is March 26, 2030.

The sukuk has been given an “A1/stable” rating by RAM Ratings Services Bhd.

BIMB said the sukuk will qualify as Tier 2 regulatory capital of Bank Islam, in compliance with Bank Negara Malaysia’s Capital Adequacy Framework for Islamic Banks (Capital Components).

“Hence, it will enhance the capital adequacy of the bank in line with the Basel III requirements.”

Read Full Story: Business


Like it? Share with your friends!

49
9 shares, 49 points

What's Your Reaction?

hate hate
10
hate
confused confused
2
confused
fail fail
16
fail
fun fun
14
fun
geeky geeky
12
geeky
love love
6
love
lol lol
8
lol
omg omg
2
omg
win win
16
win

Read exclusive latest news on entertainment, music, gaming and more topics with unprecedented coverage from around the UK and US.

0 Comments

Your email address will not be published. Required fields are marked *