KUALA LUMPUR: Alliance Islamic Bank Bhd made its maiden issuance of RM100mil Islamic additional tier-1 sukuk wakalah (AT1 sukuk) under its newly established RM2.5bil perpetual sukuk programme.
Alliance Islamic Bank is a wholly-owned subsidiary of Alliance Bank Malaysia Bhd.
The bank said in a statement that proceeds of the AT1 sukuk would provide the required funding for the group to fuel its growing syariah-compliant portfolio and future plans in the halal and values-based intermediation space.
“The launch of the sukuk programme is representative of our positive outlook and the opportunities we see with the continued demand for Islamic products and services.
“With these funds, the group will be in a firmer position to cater to the current and future needs of its customers,” said chief executive officer Rizal Il-Ehzan Fadil Azim.
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