Bank Rakyat's RM10b Sukuk to reduce dependency on corporate depositors

Bank Rakyat chief executive officer, Datuk Rosman Mohamed said the Sukuk programme would also enable the bank to obtain long term funding with a fixed rate in addition to diversifying the long term funding composition.

The 30-year programme would be implemented through a special purpose company, Imtiaz Sukuk II Bhd; the first issue of the sukuk is expected to begin soon with a size of RM500 million and an option to increase it.He represented Bank Rakyat in signing the agreement with a number of financial institutions including principal adviser and lead arranger Maybank Investment Bhd, which was represented by its CEO, Fad'l Mohamed.

Entrepreneur Development and Cooperatives Minister Datuk Seri Wan Junaidi Tuanku Jaafar was present to witness the formality. Meanwhile, Wan Junaidi in his speech said the Wakalah Sukuk programme reflects Bank Rakyat's proactivity in capital management, especially in the current challenging economic environment.

Source: News Formal (newsformal.com)

Malaysia Latest News, Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bank Rakyat terbit Sukuk WakalahKuala Lumpur: Bank Rakyat melangkah setapak lagi apabila menerbitkan Sukuk Wakalah dengan nilai nominal sehingga RM10 bilion bagi tempoh 30 tahun sekali gus membolehkannya memperoleh dana jangka panjang dengan kadar tetap.
Source: hmetromy - 🏆 26. / 51 Read more »

Bank Rakyat’s sukuk wakalah to reduce dependency on corporate depositorsKUALA LUMPUR: The Bank Rakyat’s Sukuk Wakalah programme with a nominal value of RM10 billion can reduce the bank’s dependency on corporate depositors ...
Source: theSundaily - 🏆 25. / 51 Read more »

Rakyat will benefit when federal and state govts are like minded, says PMMuhyiddin Yassin also says the government will continue to defend the sovereignty of Sabah and Sarawak. FMTNews MuhyiddinYassin
Source: fmtoday - 🏆 5. / 72 Read more »

PRN Sabah: Rakyat terus jadi keutamaan'PRNSabah pada 26 September ini adalah penentu untuk mengembalikan Sabah menjadi sebuah negeri yang lebih baik. Saya berharap kerajaan negeri yang dibentuk sehaluan dengan kerajaan PN dan gabungan parti lain' - Perdana Menteri, Tan Sri Muhyiddin Yassin
Source: hmetromy - 🏆 26. / 51 Read more »

Help rakyat firstPETALING JAYA: Economic recovery and continuation of government assistance to the people should take precedence in the fiscal budget for next year. Th...
Source: theSundaily - 🏆 25. / 51 Read more »

Perlu realistik, usah beri peluang kepada wakil rakyat gagal berkhidmat
Source: fmtoday - 🏆 5. / 72 Read more »