Cagamas issues RM300m Islamic commercial papers

Cagamas president and CEO Datuk Chung Chee Leong (pic) said there was continued interest in its short term papers, ahead of Bank Negara Malaysia’s (BNM) Monetary Policy Committee meeting last week.

KUALA LUMPUR: Cagamas Bhd issued RM300mil three-month Islamic commercial papers (ICPs) and the proceeds will be used to purchase of Shariah compliant assets.

The National Mortgage Corporation of Malaysia said on Tuesday the ICPs will be issued under the Islamic Commodity Murabahah structure.