RM 1 billion Sukuk programme to be used to finance projects in Malaysia. CIMB Investment Bank and Standard Chartered Bank Malaysia as lead arrangers, while co-lead manager is RHB Islamic Bank
The Islamic Development Bank (IDB) has signed a RM 1 billion Sukuk programme. Bank Negara Malaysia, the Securities Commission and the Ministry of Finance have already given their approval for the establishment of the programme and the issuance of the Sukuk.
The joint lead arrangers for the programme are CIMB Investment Bank and Standard Chartered Bank Malaysia, while the co-lead manager is RHB Islamic Bank. The legal counsel for the transaction is Zaid Ibrahim & Co.
IDB has chosen Malaysia for the issuance of its first local currency Sukuk. The funds raised will be used to finance projects in Malaysia.
IDB is a multilateral development bank of 56 Islamic countries. It has a AAA rating from three international rating agencies, Standard & Poors, Moody’s and Fitch Ratings. The programme has been assigned a AAA rating from Standard & Poors
click here: Islamic Development Bank establishes first local currency Sukuk ...
CPI Financial, United Arab Emirates