Maybank Islamic Sukuk

PETALING JAYA: Maybank Islamic Bhd yesterday issued its maiden Tier 2 Capital Islamic subordinated sukuk of RM1bil, the largest single ringgit-subordinated sukuk issuance by an Islamic financial institution to date.

It said in a statement that the subordinated sukuk, which is based on the Islamic principle of musyarakah, was rated AA+IS (outlook stable) by Malaysian Rating Corp Bhd and carried a tenure of 10 years from the issue date on a 10 non-callable five basis. It is lead arranged by Maybank Investment Bank Bhd.

Maybank Group president and CEO Datuk Seri Abdul Wahid Omar said the sukuk had received “overwhelming response from investors.” The RM1bil subordinated sukuk will qualify as Tier 2 capital for Maybank Islamic for the purpose of Malaysian capital adequacy regulation.

There's more, the Maybank has a new credit card in Malaysia. These are the things you did not know about Maybankard. I suggest you compare them before you sign up for other credit cards :) Here's the link

TheStar

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