MBSB Bank to issue first sustainability sukuk

“It also allows the bank to continue to grow our sustainably-generating assets including lending in green projects, affordable housing, public health, education, small and medium enterprise financing and also the underserved segments,” said MBSB Bank’s acting chief executive officer Datuk Nor Azam M. Taib in a statement yesterday.

PETALING JAYA: MBSB Bank Bhd has signed an agreement with Maybank Investment Bank Bhd (Maybank IB) for the establishment of a RM5bil sustainability sukuk wakalah programme, placing the former in the sustainability space.

Proceeds raised from the sukuk will be utilised to finance or refinance, in part or in whole, future and existing eligible syariah-compliant financings, including the construction and development of eligible projects which will be identified by the bank’s sustainability sukuk framework.