UOB Malaysia establishes its first Islamic debt programme of RM5bil

The bank also announced the successful pricing of its debut RM500mil Basel III-compliant tier-two subordinated Islamic medium-term notes.

PETALING JAYA: United Overseas Bank (M) Bhd (UOB Malaysia) has established its inaugural RM5bil Islamic debt programme under the syariah principle of Wakalah Bi Al-Istithmar.

The bank also announced the successful pricing of its debut RM500mil Basel III-compliant tier-two subordinated Islamic medium-term notes (Tier 2 Sukuk Wakalah) which are due in February 2034 and callable in February 2029.