Sukuk success reflects on the economy

IPOH: The high subscription of the government-issued Sukuk Kelestarian is proof that the country is on the right track in managing its economy, says Prime Minister Tan Sri Muhyiddin Yassin (pic).

He said the subscription was 6.4 times higher than its initial target.

“The government was able to raise US$1.3bil (RM5.34bil) from its original value of US$1bil (RM4.1bil).

“It clearly reflects investor and market confidence in the recovery and growth prospect of the nation’s economy despite the challenges brought about by the Covid-19 pandemic this past year.

“It also proves that Malaysia is on the right track in managing its economy to be more sustainable and robust, ” he said in a statement yesterday.

Muhyiddin added that the competitively-priced sukuk was unique and excellent from the Islamic finance perspective on innovative instruments.

“I am confident that this will continue to highlight the country’s position as a leader in the global Islamic finance market.

“This will also continue to put the country on a sustainable, resilient and competitive track in line with the Shared Prosperity Vision 2030, ” he said.

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