Setting the standards

“From funding renewable energy infrastructures such as solar and hydro, to supporting social purposes, such as micro financing and education, Malaysian sukuk issuers have acquired an appetite for such ventures, reflecting an increasingly strong commitment towards a sustainable future through Islamic financing products, ” Tengku Zafrul said in special address at the 16th Kuala Lumpur Islamic Finance Forum (KLIFF) held virtually yesterday.

KUALA LUMPUR: Malaysia took the lead as the largest sukuk market globally in 2020, with most of the issuances tied to the principles of Sustainable and Responsible Investments (SRIs), Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz said.

Citing a report by the Malaysia International Islamic Finance Centre (MIFC), he said Malaysia accounted for more than 45% of the world’s outstanding amount or approximately US$258bil.