Islamic Finance

Malaysian bank RHB sets up 10 bln ringgit multi-currency sukuk programme

Malaysia’s RHB Bank has set up a 10 billion ringgit ($2.4 billion) multi-currency sukuk murabahah programme.

The bank said it has the option to increase the programme limit, according to its bourse filing on September 11.

RHB said that proceeds from the sukuk programme will be used for its group of companies for Shariah-compliant purposes, including for working capital and general banking purposes of Islamic business activity and refinancing/ redemption of Islamic financing facilities for Islamic business purposes.

RHB Investment Bank Berhad is the Principal Adviser/ Lead Arranger/ Lead Manager, and RHB Islamic Bank Berhad is the appointed Shariah Adviser.

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