KUALA LUMPUR: Syarikat Takaful Malaysia Keluarga Bhd
(Takaful Malaysia) has proposed the establishment of a Tier 2 subordinated sukuk programme of up to RM1 billion in nominal value based on the shariah principle of wakalah bi al-istithmar.
The company said in a filing with Bursa Malaysia today that the programme, known as the sukuk wakalah programme, will be used to issue Tier 2 subordinated sukuk with a tenure of not less than five years from the issue date.
