Bank Islam Issues Seventh Tranche Of RM250 Mln Sukuk Murabahah

KUALA LUMPUR, March 24 (Bernama) -- Bank Islam Malaysia Bhd has issued its seventh tranche of RM250 million Subordinated Sukuk Murabahah under its RM10 billion Sukuk Murabahah Programme.

In a filing with Bursa Malaysia today, it said the Sukuk Murabahah shall qualify as Tier 2 regulatory capital of Bank Islam in compliance with Bank Negara Malaysia’s Capital Adequacy Framework for Islamic Banks (Capital Components).

Hence, the 10-year tenure sukuk will enhance the capital adequacy of Bank Islam in line with the Basel III requirements. 

“The Sukuk Murabahah, which will be redeemed at its full nominal value upon maturity, comes with a call option on its fifth anniversary and is rated ‘A1/stable’ by RAM Rating Services Bhd.

“Bank Islam is the principal adviser, lead arranger, lead manager and shariah adviser for the Sukuk Murabahah Programme,” it said.

-- BERNAMA