ISLAMIC BANKING | Tony Chua, Malaysia

CIMB Islamic optimistic on sukuk issuance

Lender sees product to surpass $20bln as global sukuk market is rebounding from crisis.

CIMB Islamic sees a healthy pipeline of Sukuk issuance before the year-end and is confident the value of sukuk raised will surpass that of last year.

"So far, US$9.76 billion worth of sukuk were raised this year and 26 per cent of them were led by CIMB Group," said CIMB Islamic Chief Executive Officer Badlishah Abdul Ghani.

Last year, US$20 billion worth of sukuk were raised globally.

The global sukuk market is gradually recovering from the recent financial crisis, he said at the Islamic Development Bank's RM1 billion Sukuk listing on Bursa Malaysia here Tuesday.

The programme has a 10-year tenure and is rated AAA by Standard & Poors. CIMB group is one of the lead joint arranger/manager for the programme.

View the full story in Bernama.


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