KUALA LUMPUR: Malayan Banking Bhd
(Maybank) has completed the issuance of RM1.2 billion Tier 2 subordinated Sukuk Murabahah under its sukuk programme of up to RM30 billion.
In a filing with Bursa Malaysia, the bank said the proceeds from the subordinated Sukuk Murabahah issued under the programme will be used to fund the issuer’s investments in ringgit- and foreign currency-denominated Islamic financial instruments approved by Bank Negara Malaysia’s Shariah Advisory Council or the Securities Commission Malaysia’s Shariah Advisory Council.
It will also fund the Islamic business activities of the issuer’s subsidiaries and overseas branches, as well as other Shariah-compliant business activities of the issuer, with the returns from such investments to be used for the periodic profit payment of the subordinated Sukuk Murabahah. - Bernama
