CIMB Islamic lists RM2 bln Sukuk on Bursa Malaysia

KUALA LUMPUR: Bursa Malaysia Bhd (Bursa Malaysia) received the first Ringgit sukuk listing by CIMB Islamic Bank Bhd (CIMB Islamic) for its Tier Two Junior Sukuk Programme of up to RM2 billion in Nominal Value.

Bursa Malaysia in a press statement yesterday said the listing from CIMB Islamic further strengthens Bursa Malaysia’s proposition to develop Malaysia as an international Islamic financial centre as well as CIMB Islamic’s position as a global leader in Islamic finance.

CIMB Islamic chief executive officer Badlisyah Abdul Ghani said: “The listing of our Islamic subdebt on Bursa Malaysia further strengthens our commitment to the development of the Islamic finance industry, in this case, the Islamic debt capital market.

“Though not a retailoffering as yet, we hope this listing will be a precursor to the development of a vibrant retail sukuk market tradable on Bursa Malaysia,” said Badlisyah.

Meanwhile, Bursa Malaysia chief executive officer Datuk Yusli Mohamed Yusoff said, “CIMB Islamic’s listing marks a milestone for us as they are the first Islamic financial institution to list their sukuk on the Exchange.

“This move signifies the relevance and appeal of Bursa Malaysia to bigger players in the Islamic finance industry, as well as boosts investor confidence,” said Yusli.

On the other hand, Bursa Malaysia registered its first sukuk and bond listings by Petronas and Cagamas in August this year, followed by GE Capital’s non-ringgit sukuk listing in November.

The investor-friendly regime coupled with a robust regulatory and Shari’ah framework has been a conducive platform for sukuk listings and issuance.

This enables Malaysia to attract over 60 per cent of worldwide sukuk issuances, making this country a global hub for Islamic finance and investments.

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