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Malaysia bank sets up $1.5bn sukuk programme

Kuala Lumpur, April 23, 2014

Public Islamic Bank, the sharia-compliant arm of Malaysia's third-largest lender, has set up an Islamic bond programme to raise as much as 5 billion ringgit ($1.53 billion).

The subordinated sukuk murabaha is Basel-III compliant and will be treated as tier-2 regulatory capital, ratings agency RAM Ratings said in a statement on Wednesday.

Maybank, RHB Islamic and AmIslamic have also made moves into Basel-III compliant sukuk. – Reuters




Tags: sukuk | malaysia | Islamic bank |

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