EPF Islamic fund allocation set to boost sukuk mart: says Moody’s

KUALA LUMPUR: The Employees Provident Fund’s (EPF) explicit allocation of US$25bil to a new fund dedicated to syariah-compliant investment is set to boost the sukuk market, said Moody’s Investors Service.

Its Global Head of Islamic Finance, Khalid Howladar, said the allocation, which represented 15% of the EPF’s investment, would create the largest standalone Islamic pension fund globally, which was rare in the industry.